CLSA Downgrades Taiwan Semiconductor Mfg. (TSM) to Underperform

CLSA cut shares of Taiwan Semiconductor Mfg. (NYSE:TSM) from an outperform rating to an underperform rating in a report issued on Thursday morning, MarketBeat reports.

A number of other equities research analysts also recently weighed in on the company. ValuEngine downgraded Taiwan Semiconductor Mfg. from a buy rating to a hold rating in a report on Friday, January 4th. Zacks Investment Research downgraded Taiwan Semiconductor Mfg. from a hold rating to a sell rating in a report on Wednesday, December 12th. Finally, Morgan Stanley upgraded Taiwan Semiconductor Mfg. from an underweight rating to an equal weight rating in a report on Friday, November 16th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $46.00.

Shares of NYSE TSM opened at $36.84 on Thursday. Taiwan Semiconductor Mfg. has a twelve month low of $34.22 and a twelve month high of $46.57. The company has a quick ratio of 2.34, a current ratio of 2.67 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $191.06 billion, a PE ratio of 16.98, a PEG ratio of 1.12 and a beta of 1.06.

Taiwan Semiconductor Mfg. (NYSE:TSM) last issued its quarterly earnings results on Thursday, October 18th. The semiconductor company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. Taiwan Semiconductor Mfg. had a return on equity of 22.62% and a net margin of 34.38%. The business had revenue of $260.35 billion during the quarter, compared to the consensus estimate of $257.92 billion. During the same period in the previous year, the business earned $3.47 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Taiwan Semiconductor Mfg. will post 2.2 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cornerstone Advisors Inc. grew its stake in Taiwan Semiconductor Mfg. by 3.3% during the 3rd quarter. Cornerstone Advisors Inc. now owns 15,182 shares of the semiconductor company’s stock worth $670,000 after buying an additional 488 shares during the last quarter. KCS Wealth Advisory grew its stake in Taiwan Semiconductor Mfg. by 2.4% during the 4th quarter. KCS Wealth Advisory now owns 28,541 shares of the semiconductor company’s stock worth $1,053,000 after buying an additional 680 shares during the last quarter. Cardinal Capital Management Inc. grew its stake in Taiwan Semiconductor Mfg. by 0.5% during the 4th quarter. Cardinal Capital Management Inc. now owns 184,877 shares of the semiconductor company’s stock worth $6,824,000 after buying an additional 962 shares during the last quarter. Curbstone Financial Management Corp grew its stake in Taiwan Semiconductor Mfg. by 4.0% during the 4th quarter. Curbstone Financial Management Corp now owns 26,200 shares of the semiconductor company’s stock worth $958,000 after buying an additional 1,000 shares during the last quarter. Finally, Rehmann Capital Advisory Group grew its stake in Taiwan Semiconductor Mfg. by 9.0% during the 3rd quarter. Rehmann Capital Advisory Group now owns 13,382 shares of the semiconductor company’s stock worth $591,000 after buying an additional 1,109 shares during the last quarter. Institutional investors and hedge funds own 19.32% of the company’s stock.

Taiwan Semiconductor Mfg. Company Profile

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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