Needham & Company LLC Reaffirms “Buy” Rating for Taiwan Semiconductor Manufacturing (NYSE:TSM)

Taiwan Semiconductor Manufacturing (NYSE:TSM)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They currently have a $168.00 price target on the semiconductor company’s stock. Needham & Company LLC’s target price suggests a potential upside of 20.79% from the stock’s previous close.

TSM has been the topic of several other reports. Susquehanna boosted their target price on Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, April 2nd. StockNews.com upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Barclays upped their price target on shares of Taiwan Semiconductor Manufacturing from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, TD Cowen upped their price target on shares of Taiwan Semiconductor Manufacturing from $85.00 to $95.00 and gave the stock a “market perform” rating in a research report on Friday, January 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Taiwan Semiconductor Manufacturing Trading Down 0.5 %

NYSE TSM opened at $139.08 on Thursday. The company has a quick ratio of 2.13, a current ratio of 2.40 and a debt-to-equity ratio of 0.26. Taiwan Semiconductor Manufacturing has a twelve month low of $81.21 and a twelve month high of $158.40. The firm has a market capitalization of $721.33 billion, a PE ratio of 26.85, a P/E/G ratio of 1.07 and a beta of 1.15. The stock’s 50 day moving average is $136.64 and its 200 day moving average is $112.61.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, January 18th. The semiconductor company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.37 by $0.07. Taiwan Semiconductor Manufacturing had a return on equity of 25.24% and a net margin of 38.80%. The business had revenue of $19.62 billion for the quarter, compared to the consensus estimate of $18.99 billion. Research analysts forecast that Taiwan Semiconductor Manufacturing will post 6.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Taiwan Semiconductor Manufacturing by 30.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,381,845 shares of the semiconductor company’s stock valued at $144,071,000 after buying an additional 318,570 shares during the period. Zions Bancorporation N.A. raised its holdings in shares of Taiwan Semiconductor Manufacturing by 29.2% in the 1st quarter. Zions Bancorporation N.A. now owns 597 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 135 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Taiwan Semiconductor Manufacturing by 40.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 12,700 shares of the semiconductor company’s stock valued at $1,324,000 after purchasing an additional 3,638 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 17.3% in the 1st quarter. Merit Financial Group LLC now owns 2,350 shares of the semiconductor company’s stock valued at $245,000 after purchasing an additional 346 shares in the last quarter. Finally, Ergoteles LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 138.6% in the 1st quarter. Ergoteles LLC now owns 45,497 shares of the semiconductor company’s stock valued at $4,744,000 after purchasing an additional 26,426 shares in the last quarter. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Company Profile

Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, manufactures, packages, tests, and sells integrated circuits and other semiconductor devices in Taiwan, China, Europe, the Middle East, Africa, Japan, the United States, and internationally. It provides complementary metal oxide silicon wafer fabrication processes to manufacture logic, mixed-signal, radio frequency, and embedded memory semiconductors.