Stock Traders Buy Large Volume of Taiwan Semiconductor Mfg. Co. Put Options (TSM)
Taiwan Semiconductor Mfg. Co. (NYSE:TSM) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 12,877 put options on the stock, American Banking News reports. This is an increase of 1,012% compared to the average daily volume of 1,158 put options.
Separately, analysts at HSBC upgraded shares of Taiwan Semiconductor Mfg. Co. from a “neutral” rating to an “overweight” rating in a research note to investors on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $18.43.
Taiwan Semiconductor Mfg. Co. (NYSE:TSM) last posted its quarterly earnings results on Thursday, October 17th. The company reported $2.00 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.33 by $1.67. The company had revenue of $162.58 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis.
Taiwan Semiconductor Manufacturing Co, Ltd. is a Taiwan-based company principally engaged in the research, development, manufacture and distribution of integrated circuit (NYSE:TSM) related products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.