HSBC cut shares of Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) from a buy rating to a hold rating in a research note published on Thursday morning.

A number of other equities research analysts have also recently commented on TSM. Nomura cut Taiwan Semiconductor Manufacturing from a buy rating to a neutral rating in a research report on Tuesday, July 12th. Susquehanna upgraded Taiwan Semiconductor Manufacturing from a negative rating to a neutral rating and set a $28.00 target price on the stock in a research report on Tuesday, October 4th. Zacks Investment Research upgraded Taiwan Semiconductor Manufacturing from a hold rating to a buy rating and set a $33.00 target price on the stock in a research report on Wednesday, September 21st. JPMorgan Chase & Co. cut Taiwan Semiconductor Manufacturing from an overweight rating to a neutral rating in a research report on Tuesday, July 12th. Finally, Goldman Sachs Group Inc. cut Taiwan Semiconductor Manufacturing from a buy rating to a neutral rating in a research report on Tuesday, June 28th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Taiwan Semiconductor Manufacturing presently has a consensus rating of Buy and a consensus target price of $29.00.

Shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) traded up 1.18% during midday trading on Thursday, reaching $30.89. The company’s stock had a trading volume of 4,808,130 shares. Taiwan Semiconductor Manufacturing has a one year low of $20.45 and a one year high of $31.48. The stock’s 50 day moving average price is $29.81 and its 200 day moving average price is $27.01. The firm has a market cap of $160.20 billion, a price-to-earnings ratio of 17.86 and a beta of 0.95.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Thursday, October 13th. The company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.02. The business earned $260.41 billion during the quarter, compared to analyst estimates of $7.99 billion. Taiwan Semiconductor Manufacturing had a return on equity of 23.38% and a net margin of 33.94%. The company’s revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the business posted $2.91 EPS. Analysts predict that Taiwan Semiconductor Manufacturing will post $1.89 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSM. PineBridge Investments L.P. raised its position in 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 period. Carnick & Kubik LLC acquired a new position in Taiwan Semiconductor Manufacturing during the first quarter worth $107,000. Howe & Rusling Inc. raised its position in 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 period. Glenmede Trust Co. NA raised its position in 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 period. Finally, O Shaughnessy Asset Management LLC raised its position in 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 period. 19.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Company Profile

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.

5 Day Chart for NYSE:TSM

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