Taiwan Semiconductor Manufacturing (NYSE:TSM) Lowered to Hold Rating by Wall Street Zen

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

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Other analysts also recently issued research reports about the company. Itau BBA Securities began coverage on Taiwan Semiconductor Manufacturing in a research report on Tuesday, October 7th. They issued an "outperform" rating for the company. Barclays lifted their target price on shares of Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the stock an "overweight" rating in a research note on Friday, October 17th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Taiwan Semiconductor Manufacturing in a report on Monday. Needham & Company LLC reissued a "buy" rating and issued a $360.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Monday, October 27th. Finally, Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 17th. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $371.67.

Get Our Latest Stock Analysis on Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Stock Performance

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Taiwan Semiconductor Manufacturing stock opened at $294.64 on Friday. The firm has a fifty day simple moving average of $291.84 and a two-hundred day simple moving average of $252.55. The company has a quick ratio of 2.47, a current ratio of 2.69 and a debt-to-equity ratio of 0.19. Taiwan Semiconductor Manufacturing has a twelve month low of $134.25 and a twelve month high of $311.37. The company has a market capitalization of $1.53 trillion, a PE ratio of 30.22, a P/E/G ratio of 1.01 and a beta of 1.31.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its earnings results on Thursday, October 16th. The semiconductor company reported $2.92 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.33. The company had revenue of $32.36 billion during the quarter, compared to analyst estimates of $951.89 billion. Taiwan Semiconductor Manufacturing had a return on equity of 34.34% and a net margin of 43.72%.Taiwan Semiconductor Manufacturing's revenue for the quarter was up 40.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.94 EPS. Research analysts expect that Taiwan Semiconductor Manufacturing will post 9.2 EPS for the current year.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. 1248 Management LLC bought a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter valued at approximately $28,000. Heartwood Wealth Advisors LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing in the 3rd quarter valued at approximately $32,000. Resources Management Corp CT ADV bought a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter valued at approximately $32,000. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter valued at approximately $33,000. Finally, First Command Advisory Services Inc. grew its stake in Taiwan Semiconductor Manufacturing by 174.1% in the second quarter. First Command Advisory Services Inc. now owns 159 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors own 16.51% of the company's stock.

About Taiwan Semiconductor Manufacturing

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 a range of wafer fabrication processes, including processes to manufacture complementary metal- oxide-semiconductor (CMOS) logic, mixed-signal, radio frequency, embedded memory, bipolar CMOS mixed-signal, and others.

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