Taiwan Semiconductor Manufacturing (NYSE:TSM) Receives “Buy” Rating from Needham & Company LLC

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Taiwan Semiconductor Manufacturing (NYSE: TSM – Get Review)The stock had its “buy” rating reaffirmed by stock analysts Needham & Company LLC in a research report released Thursday, TipRanks reports. They currently have a $125.00 price target on the semiconductor company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 27.08% from the company’s previous close.

Several other equity research analysts have also recently commented on TSM. Morgan Stanley upgraded Taiwan Semiconductor Manufacturing from an “equal weight” rating to an “overweight” rating in a Monday, Feb. 7 research note. StockNews.com began covering Taiwan Semiconductor Manufacturing in a research note on Thursday, March 31. They issued a “buy” rating for the company. Atlantic Securities upgraded Taiwan Semiconductor Manufacturing from a “neutral” rating to an “overweight” rating and raised its price target for the stock from $125.00 to $170.00 in a Thursday, January 13 research note . Cowen raised its price target on Taiwan Semiconductor Manufacturing from $120.00 to $125.00 in a research note on Tuesday, January 11. Finally, Zacks Investment Research upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating and set a price target of $109.00 for the company in a research note on Thursday. Four research analysts gave the stock a hold rating and seven gave the company’s stock a buy rating. According to MarketBeat.com, Taiwan Semiconductor Manufacturing has an average rating of “Buy” and an average price target of $135.50.

TSM was down $3.14 during Thursday’s trading, hitting $98.36. The company’s stock had a trading volume of 17,828,483 shares, compared to an average trading volume of 12,241,542 shares. The company’s 50-day moving average price is $108.34 and its two-hundred-day moving average price is $115.88. The company has a current ratio of 2.09, a quick ratio of 1.81 and a debt ratio of 0.23. Taiwan Semiconductor Manufacturing has a 12-month low of $96.91 and a 12-month high of $145.00.

Taiwan Semiconductor Manufacturing (NYSE:TSM – Get Rating) last released its results on Thursday, April 14. The semiconductor company reported EPS of $1.39 for the quarter, beating Thomson Reuters consensus estimate of $1.33 by $0.06. The company posted revenue of $491.08 billion in the quarter, compared to $471.53 billion expected by analysts. Taiwan Semiconductor Manufacturing recorded a return on equity of 32.37% and a net margin of 38.44%. The company’s revenue for the quarter increased 35.5% year over year. During the same period last year, the company achieved EPS of $0.96. Analysts expect Taiwan Semiconductor Manufacturing to post EPS of 5.51 for the current fiscal year.

Several institutional investors have recently increased or reduced their stake in the company. Sanders Capital LLC increased its holdings of Taiwan Semiconductor Manufacturing shares 3.6% in the third quarter. Sanders Capital LLC now owns 41,885,883 shares of the semiconductor company valued at $5,160,663,000 after purchasing an additional 1,451,881 shares during the period. Capital World Investors increased its holdings of Taiwan Semiconductor Manufacturing shares by 2.0% in the fourth quarter. Capital World Investors now owns 36,229,363 shares of the semiconductor company valued at $4,358,774,000 after purchasing an additional 723,057 shares during the period. WCM Investment Management LLC increased its holdings of Taiwan Semiconductor Manufacturing shares by 0.6% in the fourth quarter. WCM Investment Management LLC now owns 26,212,577 shares of the semiconductor company valued at $3,153,635,000 after purchasing an additional 150,902 shares during the period. Fisher Asset Management LLC increased its holdings of Taiwan Semiconductor Manufacturing shares 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 25,937,073 shares of the semiconductor company valued at $3,120,489,000 after purchasing an additional 557,498 shares during the period. Finally, BlackRock Inc. increased its holdings of Taiwan Semiconductor Manufacturing shares by 2.3% in the fourth quarter. BlackRock Inc. now owns 16,286,362 shares of the semiconductor company valued at $1,959,412,000 after purchasing an additional 365,237 shares during the period.

Taiwan Semiconductor Manufacturing Company Profile (Get an evaluation)

Taiwan Semiconductor Manufacturing Company Limited manufactures and sells integrated circuits and semiconductors. It also offers customer service, account management and engineering services. The company serves customers in the computing, communications, consumer, industrial and standard sectors in North America, Europe, Japan, China and South Korea.

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