Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $33.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 8.20% from the stock’s previous close.

According to Zacks, “Taiwan Semiconductor Manufacturer Co is the world’s largest dedicated integrated circuit foundry. As a foundry, the Company manufactures ICs for its customers based on their proprietary IC designs using its advanced production processes. TSMC’s goal is to establish itself as one of the world’s leading semiconductor companies by building upon the strengths that have made it the leading IC foundry in the world. “

Several other equities research analysts have also recently weighed in on TSM. Bank of America Corp. reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Monday. Goldman Sachs Group Inc. cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 28th. Daiwa Capital Markets raised shares of Taiwan Semiconductor Manufacturing from a “neutral” rating to a “buy” rating in a research report on Friday, June 3rd. JPMorgan Chase & Co. cut shares of Taiwan Semiconductor Manufacturing from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 12th. Finally, Nomura cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Taiwan Semiconductor Manufacturing presently has an average rating of “Buy” and a consensus price target of $25.33.

Analyst Recommendations for Taiwan Semiconductor Manufacturing (NYSE:TSM)

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Shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) traded up 2.01% during midday trading on Wednesday, hitting $30.50. 8,097,188 shares of the stock traded hands. The firm’s 50-day moving average is $28.95 and its 200 day moving average is $26.40. The company has a market capitalization of $158.18 billion, a price-to-earnings ratio of 17.84 and a beta of 0.94. Taiwan Semiconductor Manufacturing has a 52 week low of $19.49 and a 52 week high of $30.56.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings data on Thursday, July 14th. The company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.54 by $4.11. Taiwan Semiconductor Manufacturing had a return on equity of 23.38% and a net margin of 33.94%. The firm had revenue of $6.84 billion for the quarter. During the same period last year, the company earned $3.08 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts forecast that Taiwan Semiconductor Manufacturing will post $1.89 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth about $14,768,000. OLD National Bancorp IN raised its position in shares of Taiwan Semiconductor Manufacturing by 12.8% in the first quarter. OLD National Bancorp IN now owns 12,481 shares of the company’s stock worth $327,000 after buying an additional 1,420 shares during the period. Apex Capital Management raised its position in shares of Taiwan Semiconductor Manufacturing by 51.0% in the first quarter. Apex Capital Management now owns 27,366 shares of the company’s stock worth $717,000 after buying an additional 9,237 shares during the period. Sarasin & Partners LLP raised its position in shares of Taiwan Semiconductor Manufacturing by 6,682.6% in the first quarter. Sarasin & Partners LLP now owns 1,899,118 shares of the company’s stock worth $49,757,000 after buying an additional 1,871,118 shares during the period. Finally, Aperio Group LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 3.1% in the first quarter. Aperio Group LLC now owns 2,094,545 shares of the company’s stock worth $54,877,000 after buying an additional 63,532 shares during the period. Institutional investors and hedge funds own 19.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Company Profile

Taiwan Semiconductor Manufacturing Co, Ltd. (TSMC) is a Taiwan-based company principally engaged in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits (ICs) and other semiconductor devices and the manufacturing of masks. The Company also offers a range of wafer fabrication processes, including processes to manufacture CMOS (complementary metal oxide silicon) logic, mixed-signal, radio frequency (RF), embedded memory, BiCMOS (bipolar complementary metal oxide silicon) mixed-signal and other semiconductors.

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