Needham & Company LLC Reaffirms Buy Rating for Taiwan Semiconductor Manufacturing (NYSE:TSM)

Taiwan Semiconductor Manufacturing (NYSE:TSM)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. They presently have a $210.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 4.59% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Sanford C. Bernstein lifted their price objective on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Susquehanna reaffirmed a “positive” rating and set a $250.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Wednesday, August 14th. Finally, TD Cowen increased their price objective on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing currently has an average rating of “Moderate Buy” and an average price target of $200.00.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM opened at $200.78 on Thursday. The company has a quick ratio of 2.21, a current ratio of 2.47 and a debt-to-equity ratio of 0.26. Taiwan Semiconductor Manufacturing has a 52-week low of $84.95 and a 52-week high of $212.60. The company has a 50-day simple moving average of $175.31 and a 200-day simple moving average of $164.10. The company has a market capitalization of $1.04 trillion, a PE ratio of 38.24, a P/E/G ratio of 1.13 and a beta of 1.14.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. The company had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.33 billion. Taiwan Semiconductor Manufacturing had a net margin of 37.85% and a return on equity of 25.54%. The firm’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period last year, the company posted $1.14 earnings per share. Equities research analysts predict that Taiwan Semiconductor Manufacturing will post 6.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors have recently added to or reduced their stakes in the business. Atlantic Edge Private Wealth Management LLC purchased a new stake in Taiwan Semiconductor Manufacturing in the 2nd quarter valued at about $25,000. Olistico Wealth LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the second quarter worth approximately $27,000. Valley Wealth Managers Inc. purchased a new stake in Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $27,000. North Star Investment Management Corp. increased its position in Taiwan Semiconductor Manufacturing by 670.4% during the first quarter. North Star Investment Management Corp. now owns 208 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 181 shares during the last quarter. Finally, NewSquare Capital LLC purchased a new position in Taiwan Semiconductor Manufacturing during the second quarter worth approximately $29,000. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Company Profile

Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, manufactures, packages, tests, and sells integrated circuits and other semiconductor devices in Taiwan, China, Europe, the Middle East, Africa, Japan, the United States, and internationally. It provides a range of wafer fabrication processes, including processes to manufacture complementary metal- oxide-semiconductor (CMOS) logic, mixed-signal, radio frequency, embedded memory, bipolar CMOS mixed-signal, and others.