CLSA Upgrades Taiwan Semiconductor Mfg. (NYSE:TSM) to Buy

Taiwan Semiconductor Mfg. (NYSE:TSM) was upgraded by investment analysts at CLSA from an “underperform” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat reports.

TSM has been the topic of several other reports. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Wednesday, June 5th. Goldman Sachs Group set a €40.50 ($47.09) price objective on shares of Koninklijke Philips and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Finally, ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $48.00.

Taiwan Semiconductor Mfg. stock opened at $43.83 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.33 and a current ratio of 2.62. The firm has a market capitalization of $223.99 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 3.41 and a beta of 1.03. Taiwan Semiconductor Mfg. has a 1 year low of $34.22 and a 1 year high of $45.64. The business has a 50 day simple moving average of $39.84.

Taiwan Semiconductor Mfg. (NYSE:TSM) last posted its quarterly earnings data on Thursday, July 18th. The semiconductor company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). Taiwan Semiconductor Mfg. had a return on equity of 19.01% and a net margin of 31.42%. The firm had revenue of $241 billion for the quarter, compared to analysts’ expectations of $236.65 billion. During the same quarter in the previous year, the firm posted $2.79 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts predict that Taiwan Semiconductor Mfg. will post 2 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Deprince Race & Zollo Inc. grew its holdings in Taiwan Semiconductor Mfg. by 12.8% during the fourth quarter. Deprince Race & Zollo Inc. now owns 490,482 shares of the semiconductor company’s stock worth $18,104,000 after acquiring an additional 55,560 shares during the period. Comerica Securities Inc. grew its holdings in Taiwan Semiconductor Mfg. by 37.9% during the fourth quarter. Comerica Securities Inc. now owns 29,380 shares of the semiconductor company’s stock worth $1,084,000 after acquiring an additional 8,067 shares during the period. Two Sigma Securities LLC grew its holdings in Taiwan Semiconductor Mfg. by 144.8% during the fourth quarter. Two Sigma Securities LLC now owns 5,969 shares of the semiconductor company’s stock worth $220,000 after acquiring an additional 19,286 shares during the period. MML Investors Services LLC grew its holdings in Taiwan Semiconductor Mfg. by 1.1% during the fourth quarter. MML Investors Services LLC now owns 71,509 shares of the semiconductor company’s stock worth $2,639,000 after acquiring an additional 781 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in Taiwan Semiconductor Mfg. by 4.8% during the fourth quarter. Nuveen Asset Management LLC now owns 30,610 shares of the semiconductor company’s stock worth $1,130,000 after acquiring an additional 1,406 shares during the period. Hedge funds and other institutional investors own 19.64% of the company’s stock.

Taiwan Semiconductor Mfg. Company Profile

Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, engages in manufacturing, selling, packaging, testing, and computer-aided design of integrated circuits and other semiconductor devices. The company manufactures masks and electronic spare parts; researches, develops, designs, manufactures, sells, packages, and tests color filters; and offers customer and engineering support services.

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