BidaskClub Downgrades Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) to Hold

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Monday.

Several other equities analysts have also recently weighed in on the stock. HSBC Holdings plc cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Credit Suisse Group cut shares of Taiwan Semiconductor Manufacturing from an “outperform” rating to a “neutral” rating in a research note on Monday, May 15th. Zacks Investment Research cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, April 19th. Finally, Rosenblatt Securities set a $27.00 price target on shares of Taiwan Semiconductor Manufacturing and gave the stock a “buy” rating in a research note on Saturday, April 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.67.

Shares of Taiwan Semiconductor Manufacturing (TSM) opened at 36.10 on Monday. The firm has a market capitalization of $187.21 billion, a PE ratio of 16.33 and a beta of 0.76. Taiwan Semiconductor Manufacturing has a 1-year low of $27.66 and a 1-year high of $36.92. The firm has a 50-day moving average of $35.78 and a 200-day moving average of $33.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings results on Thursday, July 13th. The semiconductor company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.50 by $0.08. The business had revenue of $213.86 billion for the quarter, compared to the consensus estimate of $214.25 billion. Taiwan Semiconductor Manufacturing had a return on equity of 25.75% and a net margin of 36.11%. Taiwan Semiconductor Manufacturing’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.80 earnings per share. On average, equities research analysts anticipate that Taiwan Semiconductor Manufacturing will post $2.17 EPS for the current fiscal year.

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Institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in Taiwan Semiconductor Manufacturing by 70,175.6% in the first quarter. BlackRock Inc. now owns 18,320,853 shares of the semiconductor company’s stock valued at $601,657,000 after buying an additional 18,294,783 shares during the last quarter. Fisher Asset Management LLC increased its stake in Taiwan Semiconductor Manufacturing by 22.3% in the second quarter. Fisher Asset Management LLC now owns 34,471,281 shares of the semiconductor company’s stock valued at $1,205,116,000 after buying an additional 6,281,847 shares during the last quarter. Wellington Management Group LLP increased its stake in Taiwan Semiconductor Manufacturing by 63.6% in the first quarter. Wellington Management Group LLP now owns 11,775,414 shares of the semiconductor company’s stock valued at $386,705,000 after buying an additional 4,579,517 shares during the last quarter. Vontobel Asset Management Inc. increased its stake in Taiwan Semiconductor Manufacturing by 36.3% in the second quarter. Vontobel Asset Management Inc. now owns 14,342,431 shares of the semiconductor company’s stock valued at $513,720,000 after buying an additional 3,819,919 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Taiwan Semiconductor Manufacturing by 6.2% in the first quarter. Vanguard Group Inc. now owns 39,143,222 shares of the semiconductor company’s stock valued at $1,285,463,000 after buying an additional 2,272,816 shares during the last quarter. 20.04% of the stock is owned by institutional investors.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Company Limited (TSMC) is a semiconductor foundry. The Company is engaged in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices and the manufacturing of masks. It operates through foundry segment.