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

Taiwan Semiconductor Manufacturing (NYSE:TSM)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $225.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 12.01% from the company’s previous close.

TSM has been the subject of several other research reports. Barclays lifted their price target on Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, January 17th. StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.00.

Taiwan Semiconductor Manufacturing Stock Down 0.9 %

TSM opened at $200.88 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30. The stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 0.67 and a beta of 1.06. The business has a 50-day moving average of $205.68 and a two-hundred day moving average of $190.15. Taiwan Semiconductor Manufacturing has a 12 month low of $122.91 and a 12 month high of $226.40.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings results on Thursday, January 16th. The semiconductor company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. On average, research analysts expect that Taiwan Semiconductor Manufacturing will post 9.2 earnings per share for the current year.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in Taiwan Semiconductor Manufacturing by 4.6% during the 4th quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company’s stock worth $11,562,498,000 after acquiring an additional 2,572,488 shares in the last quarter. Sanders Capital LLC lifted its position in Taiwan Semiconductor Manufacturing by 0.6% during the 4th quarter. Sanders Capital LLC now owns 41,877,457 shares of the semiconductor company’s stock worth $8,270,379,000 after acquiring an additional 231,310 shares in the last quarter. Capital World Investors lifted its position in Taiwan Semiconductor Manufacturing by 0.8% during the 4th quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company’s stock worth $7,031,632,000 after acquiring an additional 294,316 shares in the last quarter. Fisher Asset Management LLC lifted its position in Taiwan Semiconductor Manufacturing by 1.3% during the 3rd quarter. Fisher Asset Management LLC now owns 28,767,106 shares of the semiconductor company’s stock worth $4,995,984,000 after acquiring an additional 359,854 shares in the last quarter. Finally, Capital International Investors boosted its position in Taiwan Semiconductor Manufacturing by 8.2% in the 4th quarter. Capital International Investors now owns 22,210,222 shares of the semiconductor company’s stock valued at $4,391,957,000 after buying an additional 1,683,256 shares during the last quarter. 16.51% of the stock is owned by institutional investors and hedge funds.

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.