Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 28,967,275 shares, an increase of 15.8% from the August 31st total of 25,006,346 shares. Based on an average daily trading volume, of 7,177,899 shares, the short-interest ratio is currently 4.0 days.
TSM has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a report on Friday, July 8th. JPMorgan Chase & Co. downgraded Taiwan Semiconductor Manufacturing from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 12th. Goldman Sachs Group Inc. downgraded Taiwan Semiconductor Manufacturing from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Nomura downgraded Taiwan Semiconductor Manufacturing from a “buy” rating to a “neutral” rating in a report on Tuesday, July 12th. Finally, Bank of America Corp. restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Monday, September 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Taiwan Semiconductor Manufacturing presently has an average rating of “Buy” and a consensus price target of $25.33.
Shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) opened at 30.59 on Friday. The company has a 50-day moving average price of $29.31 and a 200 day moving average price of $26.69. Taiwan Semiconductor Manufacturing has a one year low of $20.45 and a one year high of $30.95. The firm has a market capitalization of $158.64 billion, a P/E ratio of 17.68 and a beta of 0.94.
Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings data on Thursday, July 14th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $4.54 by $4.11. Taiwan Semiconductor Manufacturing had a return on equity of 23.38% and a net margin of 33.94%. The firm earned $6.84 billion during the quarter. During the same period last year, the company earned $3.08 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts expect that Taiwan Semiconductor Manufacturing will post $1.89 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of TSM. BlackRock Fund Advisors raised its position 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 worth $28,994,000 after buying an additional 32,737 shares in the last quarter. Wellington Management Group LLP raised its position in Taiwan Semiconductor Manufacturing by 31.2% in the first quarter. Wellington Management Group LLP now owns 8,809,900 shares of the company’s stock worth $230,820,000 after buying an additional 2,095,906 shares in the last quarter. Capital Fund Management S.A. purchased a new position in Taiwan Semiconductor Manufacturing during the second quarter worth approximately $27,321,000. Origin Asset Management LLP raised its position in Taiwan Semiconductor Manufacturing by 14.0% in the first quarter. Origin Asset Management LLP now owns 2,320,480 shares of the company’s stock worth $60,797,000 after buying an additional 284,900 shares in the last quarter. Finally, Bancorpsouth Inc. raised its position in Taiwan Semiconductor Manufacturing by 56.7% in the first quarter. Bancorpsouth Inc. now owns 16,157 shares of the company’s stock worth $423,000 after buying an additional 5,845 shares in the last quarter. 19.51% of the stock is owned by hedge funds and other institutional investors.
About Taiwan Semiconductor Manufacturing
Taiwan Semiconductor Manufacturing Co, Ltd. (TSMC) is a Taiwan-based company principally engaged in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits (ICs) and other semiconductor devices and the manufacturing of masks. The Company also offers a range of wafer fabrication processes, including processes to manufacture CMOS (complementary metal oxide silicon) logic, mixed-signal, radio frequency (RF), embedded memory, BiCMOS (bipolar complementary metal oxide silicon) mixed-signal and other semiconductors.
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