The Taiwan Semiconductor Manufacturing Co. (TSM) Downgraded by HSBC to Hold

The Taiwan Semiconductor Manufacturing Co. (TSM) Downgraded by HSBC to Hold

HSBC downgraded shares of Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) from a buy rating to a hold rating in a research report report published on Thursday morning.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Taiwan Semiconductor Manufacturing from a hold rating to a buy rating and set a $33.00 price target for the company in a report on Wednesday, September 21st. Bank of America Corp. reissued a buy rating on shares of Taiwan Semiconductor Manufacturing in a report on Monday, September 19th. Susquehanna raised shares of Taiwan Semiconductor Manufacturing from a negative rating to a neutral rating and set a $28.00 price target for the company in a report on Tuesday, October 4th. Goldman Sachs Group Inc. lowered shares of Taiwan Semiconductor Manufacturing from a buy rating to a neutral rating in a research report on Tuesday, June 28th. Finally, Nomura lowered shares of Taiwan Semiconductor Manufacturing from a buy rating to a neutral rating in a research report on Tuesday, July 12th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $29.00.

Taiwan Semiconductor Manufacturing (NYSE:TSM) traded up 1.18% on Thursday, reaching $30.89. 4,808,130 shares of the company’s stock were exchanged. The company has a market cap of $160.20 billion, a P/E ratio of 17.86 and a beta of 0.95. The firm has a 50 day moving average of $29.81 and a 200-day moving average of $27.01. Taiwan Semiconductor Manufacturing has a 12-month low of $20.45 and a 12-month high of $31.48.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings results on Thursday, October 13th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm earned $260.41 billion during the quarter, compared to analysts’ expectations of $7.99 billion. Taiwan Semiconductor Manufacturing had a net margin of 33.94% and a return on equity of 23.38%. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.91 earnings per share. Equities analysts expect that Taiwan Semiconductor Manufacturing will post $1.89 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Taiwan Semiconductor Manufacturing by 551.6% in the first quarter. BlackRock Inc. now owns 191,164 shares of the company’s stock valued at $5,008,000 after buying an additional 161,826 shares in the last quarter. BlackRock Fund Advisors raised its stake in Taiwan Semiconductor Manufacturing by 3.0% in the first quarter. BlackRock Fund Advisors now owns 1,106,650 shares of the company’s stock valued at $28,994,000 after buying an additional 32,737 shares in the last quarter. Bessemer Group Inc. raised its stake in Taiwan Semiconductor Manufacturing by 13.1% in the first quarter. Bessemer Group Inc. now owns 54,653 shares of the company’s stock valued at $1,432,000 after buying an additional 6,310 shares in the last quarter. M&T Bank Corp raised its stake in Taiwan Semiconductor Manufacturing by 0.5% in the first quarter. M&T Bank Corp now owns 195,576 shares of the company’s stock valued at $5,124,000 after buying an additional 929 shares in the last quarter. Finally, Aviva PLC raised its stake in Taiwan Semiconductor Manufacturing by 40.2% in the first quarter. Aviva PLC now owns 400,305 shares of the company’s stock valued at $10,488,000 after buying an additional 114,800 shares in the last quarter. Institutional investors and hedge funds own 19.51% of the company’s stock.

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