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Taiwan Semiconductor Mfg. Co. (NYSE:TSM) was downgraded by HSBC from an “overweight” rating to a “neutral” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports.

Taiwan Semiconductor Mfg. Co. (NYSE:TSM) opened at 20.56 on Tuesday. Taiwan Semiconductor Mfg. Co. has a 1-year low of $15.70 and a 1-year high of $20.92. The stock has a 50-day moving average of $19.42 and a 200-day moving average of $18.07. The company has a market cap of $106.6 billion and a price-to-earnings ratio of 16.31. Taiwan Semiconductor Mfg. Co. also saw a significant decline in short interest during the month of January. As of March 31st, there was short interest totalling 45,597,595 shares, a decline of 7.3% from the March 14th total of 49,199,259 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 12,268,738 shares, the days-to-cover ratio is presently 3.7 days.

Taiwan Semiconductor Mfg. Co. (NYSE:TSM) last issued its quarterly earnings data on Thursday, April 17th. The company reported $0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.01. The company had revenue of $148.22 billion for the quarter, compared to the consensus estimate of $147.78 billion. During the same quarter last year, the company posted $1.53 earnings per share. Taiwan Semiconductor Mfg. Co.’s revenue was up 11.6% compared to the same quarter last year. On average, analysts predict that Taiwan Semiconductor Mfg. Co. will post $1.43 earnings per share for the current fiscal year.

Separately, analysts at UBS AG upgraded shares of Taiwan Semiconductor Mfg. Co. from a “neutral” rating to a “buy” rating in a research note on Thursday, April 17th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $18.20.

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.

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