Taiwan Semiconductor Mfg. (NYSE:TSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $48.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 16.22% from the company’s current price.

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 research analysts have also recently weighed in on TSM. ValuEngine upgraded Taiwan Semiconductor Mfg. from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. KeyCorp reiterated a “hold” rating on shares of Taiwan Semiconductor Mfg. in a research report on Friday, October 20th. Daiwa Capital Markets cut Taiwan Semiconductor Mfg. from an “outperform” rating to a “hold” rating in a research report on Thursday, October 19th. JPMorgan Chase & Co. upgraded Taiwan Semiconductor Mfg. from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 10th. Finally, Morgan Stanley cut Taiwan Semiconductor Mfg. from an “overweight” rating to an “equal weight” rating in a research report on Monday, November 27th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $37.50.

Shares of Taiwan Semiconductor Mfg. (TSM) traded down $0.88 during trading on Thursday, reaching $41.30. The company’s stock had a trading volume of 7,102,700 shares, compared to its average volume of 5,503,571. Taiwan Semiconductor Mfg. has a fifty-two week low of $28.98 and a fifty-two week high of $43.02. The firm has a market cap of $206,780.00, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 1.18 and a beta of 0.74. The company has a quick ratio of 2.11, a current ratio of 2.36 and a debt-to-equity ratio of 0.06.

A number of institutional investors have recently added to or reduced their stakes in TSM. Steward Partners Investment Advisory LLC bought a new position in Taiwan Semiconductor Mfg. in the third quarter valued at about $113,000. Bruderman Asset Management LLC bought a new position in Taiwan Semiconductor Mfg. in the second quarter valued at about $115,000. AGF Investments Inc. grew its position in Taiwan Semiconductor Mfg. by 63.8% in the third quarter. AGF Investments Inc. now owns 3,636 shares of the semiconductor company’s stock valued at $137,000 after acquiring an additional 1,416 shares during the last quarter. Conning Inc. bought a new position in Taiwan Semiconductor Mfg. in the third quarter valued at about $201,000. Finally, Murphy Pohlad Asset Management LLC bought a new position in Taiwan Semiconductor Mfg. in the third quarter valued at about $202,000. Hedge funds and other institutional investors own 19.39% of the company’s stock.

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About Taiwan Semiconductor Mfg.

Taiwan Semiconductor Manufacturing Company Limited (TSMC) is a semiconductor foundry. The Company is engaged in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices and the manufacturing of masks. It operates through foundry segment.

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