Barclays Increases Taiwan Semiconductor Manufacturing (NYSE:TSM) Price Target to $170.00

Taiwan Semiconductor Manufacturing (NYSE:TSMGet Free Report) had its target price hoisted by Barclays from $150.00 to $170.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Barclays‘s target price suggests a potential upside of 4.95% from the company’s previous close.

A number of other research firms have also weighed in on TSM. StockNews.com raised shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $168.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, May 22nd. TD Cowen upped their price target on shares of Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Thursday, April 18th. Finally, Susquehanna upped their price target on shares of Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $162.00.

Check Out Our Latest Report on Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Stock Down 0.6 %

Shares of NYSE:TSM opened at $161.98 on Wednesday. The company has a market cap of $840.07 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 1.09 and a beta of 1.11. The firm’s 50-day simple moving average is $145.44 and its 200-day simple moving average is $126.39. The company has a quick ratio of 2.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.27. Taiwan Semiconductor Manufacturing has a fifty-two week low of $84.01 and a fifty-two week high of $164.70.

Taiwan Semiconductor Manufacturing (NYSE:TSMGet Free Report) last released its quarterly earnings data on Thursday, April 18th. The semiconductor company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.09. The firm had revenue of $18.87 billion for the quarter, compared to the consensus estimate of $18.38 billion. Taiwan Semiconductor Manufacturing had a net margin of 38.15% and a return on equity of 24.75%. As a group, equities research analysts predict that Taiwan Semiconductor Manufacturing will post 6.13 earnings per share for the current year.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several large investors have recently made changes to their positions in TSM. Johnson Financial Group Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth about $25,000. Financial Gravity Asset Management Inc. lifted its position in shares of Taiwan Semiconductor Manufacturing by 208.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 312 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 211 shares in the last quarter. LifeSteps Financial Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the first quarter worth approximately $27,000. North Star Investment Management Corp. lifted its position in shares of Taiwan Semiconductor Manufacturing by 670.4% in 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 in the last quarter. Finally, Sachetta LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth approximately $29,000. Institutional investors own 16.51% of the company’s stock.

About Taiwan Semiconductor Manufacturing

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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.

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