BidaskClub Downgrades Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) to Hold

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, July 24th.

A number of other research firms also recently commented on TSM. HSBC Holdings plc downgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Zacks Investment Research cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “sell” rating in a report on Tuesday, July 18th. Credit Suisse Group cut shares of Taiwan Semiconductor Manufacturing from an “outperform” rating to a “neutral” rating in a report on Monday, May 15th. Finally, Rosenblatt Securities set a $27.00 target price on shares of Taiwan Semiconductor Manufacturing and gave the stock a “buy” rating in a report on Saturday, April 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $31.67.

Taiwan Semiconductor Manufacturing (NYSE:TSM) opened at 35.86 on Monday. Taiwan Semiconductor Manufacturing has a 12 month low of $28.20 and a 12 month high of $36.96. The stock has a market cap of $185.97 billion, a PE ratio of 16.15 and a beta of 0.77. The firm has a 50-day moving average of $35.84 and a 200 day moving average of $34.01.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings data on Thursday, July 13th. The semiconductor company reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.08. Taiwan Semiconductor Manufacturing had a net margin of 36.11% and a return on equity of 25.61%. The company had revenue of $213.86 billion for the quarter, compared to the consensus estimate of $214.25 billion. During the same quarter last year, the company earned $2.80 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. Analysts anticipate that Taiwan Semiconductor Manufacturing will post $2.15 EPS for the current year.

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Hedge funds have recently modified their holdings of the company. Bruderman Asset Management LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter worth $115,000. Pictet & Cie Europe SA purchased a new stake in Taiwan Semiconductor Manufacturing during the first quarter worth $134,000. Pictet North America Advisors SA purchased a new stake in Taiwan Semiconductor Manufacturing during the first quarter worth $166,000. Advisory Services Network LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the first quarter worth $184,000. Finally, U S Global Investors Inc purchased a new stake in Taiwan Semiconductor Manufacturing during the first quarter worth $187,000. 19.65% of the stock is currently owned by institutional investors.

About Taiwan Semiconductor Manufacturing

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.

Analyst Recommendations for Taiwan Semiconductor Manufacturing (NYSE:TSM)

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