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

Taiwan Semiconductor Manufacturing (NYSE:TSM)‘s stock had its “buy” rating restated by Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They presently have a $225.00 target price on the semiconductor company’s stock. Needham & Company LLC’s target price suggests a potential upside of 48.16% from the stock’s previous close.

TSM has been the subject of several other research reports. Barclays boosted their target price on Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. StockNews.com cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $220.00.

Taiwan Semiconductor Manufacturing Trading Up 0.1 %

Shares of Taiwan Semiconductor Manufacturing stock opened at $151.86 on Thursday. The firm’s 50-day moving average price is $173.73 and its two-hundred day moving average price is $189.98. The company has a market capitalization of $787.61 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 0.66 and a beta of 1.16. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. Taiwan Semiconductor Manufacturing has a 12-month low of $125.78 and a 12-month high of $226.40.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. The firm had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $834.10 billion. On average, analysts forecast that Taiwan Semiconductor Manufacturing will post 9.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds have recently modified their holdings of the business. Accel Wealth Management increased its stake in shares of Taiwan Semiconductor Manufacturing by 2.5% in the fourth quarter. Accel Wealth Management now owns 2,037 shares of the semiconductor company’s stock valued at $402,000 after buying an additional 49 shares during the period. Elmwood Wealth Management Inc. increased its position in shares of Taiwan Semiconductor Manufacturing by 3.7% during the fourth quarter. Elmwood Wealth Management Inc. now owns 1,405 shares of the semiconductor company’s stock worth $277,000 after buying an additional 50 shares during the period. WP Advisors LLC raised its stake in Taiwan Semiconductor Manufacturing by 1.2% during the fourth quarter. WP Advisors LLC now owns 4,271 shares of the semiconductor company’s stock worth $843,000 after buying an additional 50 shares during the last quarter. Heritage Wealth Advisors boosted its position in Taiwan Semiconductor Manufacturing by 20.0% during the fourth quarter. Heritage Wealth Advisors now owns 300 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 50 shares during the last quarter. Finally, First Heartland Consultants Inc. grew its holdings in Taiwan Semiconductor Manufacturing by 4.2% during the 4th quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company’s stock worth $244,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Company Profile

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.