Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Taiwan Semiconductor Manufacturing (NYSE:TSM) had its target price increased by research analysts at Needham & Company LLC from $480.00 to $530.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 31.45% from the stock’s current price.

Other research analysts have also issued reports about the stock. Barclays raised their price target on shares of Taiwan Semiconductor Manufacturing from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Citigroup reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Monday, July 6th. DA Davidson lifted their price target on Taiwan Semiconductor Manufacturing from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Bank of America boosted their price target on Taiwan Semiconductor Manufacturing from $490.00 to $590.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, TD Cowen lifted their target price on shares of Taiwan Semiconductor Manufacturing from $400.00 to $440.00 and gave the stock a “hold” rating in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $496.25.

Taiwan Semiconductor Manufacturing Price Performance

Shares of NYSE TSM opened at $403.18 on Monday. The firm has a market cap of $2.09 trillion, a PE ratio of 29.09, a PEG ratio of 0.93 and a beta of 1.36. The firm has a fifty day moving average of $427.67 and a 200 day moving average of $382.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.31 and a current ratio of 2.49. Taiwan Semiconductor Manufacturing has a one year low of $223.70 and a one year high of $479.00.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings data on Tuesday, June 30th. The semiconductor company reported $4.28 earnings per share for the quarter. Taiwan Semiconductor Manufacturing had a net margin of 50.31% and a return on equity of 40.88%. The company had revenue of $39.89 billion during the quarter. As a group, research analysts predict that Taiwan Semiconductor Manufacturing will post 16.34 EPS for the current fiscal year.

Insider Buying and Selling at Taiwan Semiconductor Manufacturing

In other Taiwan Semiconductor Manufacturing news, VP Lipen Yuan acquired 1,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average cost of $79.19 per share, for a total transaction of $79,190.00. Following the completion of the transaction, the vice president owned 5,000 shares of the company’s stock, valued at approximately $395,950. The trade was a 25.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Bor-Zen Tien bought 2,000 shares of Taiwan Semiconductor Manufacturing stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $69.91 per share, for a total transaction of $139,820.00. Following the transaction, the vice president directly owned 11,051 shares of the company’s stock, valued at approximately $772,575.41. This trade represents a 22.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 6,857 shares of company stock worth $512,334 in the last ninety days. 1.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quattro Advisors LLC acquired a new stake in Taiwan Semiconductor Manufacturing in the 4th quarter valued at approximately $25,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the 4th quarter valued at $27,000. Strategic Advocates LLC lifted its stake in Taiwan Semiconductor Manufacturing by 62.1% during the 4th quarter. Strategic Advocates LLC now owns 94 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 36 shares in the last quarter. Ares Financial Consulting LLC purchased a new position in Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $29,000. Finally, Basepoint Wealth LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the fourth quarter worth about $31,000. 16.51% of the stock is owned by hedge funds and other institutional investors.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC’s service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.