Taiwan Semiconductor Manufacturing Co. (TSM) Stock Rating Lowered by HSBC

HSBC cut shares of Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) from a buy rating to a hold rating in a report issued on Thursday.

Several other equities analysts have also weighed in on the company. Nomura lowered Taiwan Semiconductor Manufacturing from a buy rating to a neutral rating in a research note on Tuesday, July 12th. Susquehanna raised Taiwan Semiconductor Manufacturing from a negative rating to a neutral rating and set a $28.00 target price on the stock in a research note on Tuesday, October 4th. Zacks Investment Research raised Taiwan Semiconductor Manufacturing from a hold rating to a buy rating and set a $33.00 target price on the stock in a research note on Wednesday, September 21st. JPMorgan Chase & Co. lowered Taiwan Semiconductor Manufacturing from an overweight rating to a neutral rating in a research note on Tuesday, July 12th. Finally, Goldman Sachs Group Inc. lowered Taiwan Semiconductor Manufacturing from a buy rating to a neutral rating in a research note on Tuesday, June 28th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Taiwan Semiconductor Manufacturing has an average rating of Buy and an average target price of $29.00.

Shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) opened at 30.86 on Thursday. Taiwan Semiconductor Manufacturing has a 52 week low of $20.45 and a 52 week high of $31.48. The company has a 50 day moving average price of $29.99 and a 200 day moving average price of $27.12. The company has a market cap of $160.04 billion, a PE ratio of 17.84 and a beta of 0.94.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, October 13th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Taiwan Semiconductor Manufacturing had a return on equity of 24.85% and a net margin of 34.54%. The firm had revenue of $260.41 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same quarter in the prior year, the firm posted $2.91 earnings per share. The company’s quarterly revenue was up 22.5% on a year-over-year basis. On average, equities analysts expect that Taiwan Semiconductor Manufacturing will post $1.89 earnings per share for the current year.

Several hedge funds have recently modified their holdings of TSM. PineBridge Investments L.P. increased its stake in shares of Taiwan Semiconductor Manufacturing by 7.3% in the second quarter. PineBridge Investments L.P. now owns 4,036 shares of the company’s stock worth $106,000 after buying an additional 275 shares during the last quarter. Carnick & Kubik LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter worth approximately $107,000. Howe & Rusling Inc. increased its stake in shares of Taiwan Semiconductor Manufacturing by 11.1% in the second quarter. Howe & Rusling Inc. now owns 4,595 shares of the company’s stock worth $121,000 after buying an additional 458 shares during the last quarter. Glenmede Trust Co. NA increased its stake in shares of Taiwan Semiconductor Manufacturing by 117.5% in the second quarter. Glenmede Trust Co. NA now owns 4,800 shares of the company’s stock worth $125,000 after buying an additional 2,593 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 94.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 5,217 shares of the company’s stock worth $137,000 after buying an additional 2,528 shares during the last quarter. 19.51% of the stock is owned by institutional investors.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Co, Ltd. (TSMC) is a Taiwan-based company principally engaged in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits (ICs) and other semiconductor devices and the manufacturing of masks. The Company also offers a range of wafer fabrication processes, including processes to manufacture CMOS (complementary metal oxide silicon) logic, mixed-signal, radio frequency (RF), embedded memory, BiCMOS (bipolar complementary metal oxide silicon) mixed-signal and other semiconductors.

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