Taiwan Semiconductor Mfg. (TSM) Lifted to Hold at Zacks Investment Research

Taiwan Semiconductor Mfg. (NYSE:TSM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

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. “

Other equities analysts also recently issued reports about the company. Goldman Sachs Group assumed coverage on Taiwan Semiconductor Mfg. in a research report on Tuesday, May 7th. They set a “buy” rating and a $50.00 price objective for the company. CLSA downgraded Taiwan Semiconductor Mfg. from an “outperform” rating to an “underperform” rating in a research report on Thursday, January 17th. Finally, ValuEngine upgraded Taiwan Semiconductor Mfg. from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Taiwan Semiconductor Mfg. currently has a consensus rating of “Buy” and a consensus target price of $50.00.

Shares of TSM traded up $1.00 during mid-day trading on Tuesday, reaching $41.99. 332,301 shares of the company were exchanged, compared to its average volume of 8,410,301. Taiwan Semiconductor Mfg. has a 52 week low of $34.22 and a 52 week high of $45.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.67 and a quick ratio of 2.38. The company has a market capitalization of $214.86 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 2.63 and a beta of 0.98.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Next Capital Management LLC purchased a new stake in Taiwan Semiconductor Mfg. during the 1st quarter valued at $25,000. First Bank & Trust bought a new stake in shares of Taiwan Semiconductor Mfg. during the fourth quarter valued at approximately $29,000. Horan Capital Advisors LLC. bought a new stake in shares of Taiwan Semiconductor Mfg. during the first quarter valued at approximately $29,000. Cullen Frost Bankers Inc. bought a new stake in shares of Taiwan Semiconductor Mfg. during the first quarter valued at approximately $31,000. Finally, Advocacy Wealth Management Services LLC raised its stake in shares of Taiwan Semiconductor Mfg. by 55.6% during the first quarter. Advocacy Wealth Management Services LLC now owns 789 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 282 shares in the last quarter. 19.48% of the stock is owned by institutional investors and hedge funds.

About Taiwan Semiconductor Mfg.

Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, engages in manufacturing, selling, packaging, testing, and computer-aided design of integrated circuits and other semiconductor devices. The company manufactures masks and electronic spare parts; researches, develops, designs, manufactures, sells, packages, and tests color filters; and offers customer and engineering support services.

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Analyst Recommendations for Taiwan Semiconductor Mfg. (NYSE:TSM)

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