Taiwan Semiconductor Manufacturing (NYSE:TSM) Given New $270.00 Price Target at Needham & Company LLC

Taiwan Semiconductor Manufacturing (NYSE:TSM) had its price objective upped by research analysts at Needham & Company LLC from $225.00 to $270.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target points to a potential upside of 15.58% from the company’s previous close.

A number of other brokerages also recently issued reports on TSM. Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Susquehanna boosted their target price on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a “positive” rating in a research report on Tuesday, June 17th. Finally, Barclays restated an “overweight” rating and set a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. 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 data from MarketBeat.com, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and a consensus price target of $233.75.

Taiwan Semiconductor Manufacturing Stock Up 4.0%

NYSE TSM opened at $233.61 on Tuesday. Taiwan Semiconductor Manufacturing has a 52 week low of $133.57 and a 52 week high of $233.82. The company has a quick ratio of 2.18, a current ratio of 2.39 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.21 trillion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 1.16 and a beta of 1.29. The stock’s 50-day moving average price is $197.56 and its 200-day moving average price is $190.99.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.09. The company had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. On average, equities research analysts predict that Taiwan Semiconductor Manufacturing will post 9.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TSM. IMG Wealth Management Inc. acquired a new position in Taiwan Semiconductor Manufacturing during the fourth quarter worth about $26,000. Hopwood Financial Services Inc. purchased a new position in Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $27,000. Accredited Wealth Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $31,000. City Holding Co. boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 238.0% during the 1st quarter. City Holding Co. now owns 169 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 119 shares during the last quarter. Finally, 1248 Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the first quarter valued at approximately $28,000. Hedge funds and other institutional investors 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.