Taiwan Semiconductor Manufacturing (NYSE:TSM) Price Target Raised to $270.00

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) had its target price raised by investment analysts at Needham & Company LLC from $225.00 to $270.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's target price would suggest a potential upside of 15.58% from the company's previous close.

A number of other equities research analysts have also commented on TSM. Barclays restated an "overweight" rating and set a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Susquehanna raised their target price on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a "positive" rating in a research note on Tuesday, June 17th. Finally, Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $233.75.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM traded up $8.93 during trading hours on Tuesday, hitting $233.61. The stock had a trading volume of 11,990,180 shares, compared to its average volume of 15,465,889. The company's fifty day moving average is $196.04 and its two-hundred day moving average is $190.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 2.18. Taiwan Semiconductor Manufacturing has a 52 week low of $133.57 and a 52 week high of $233.80. The stock has a market capitalization of $1.21 trillion, a price-to-earnings ratio of 30.03, a P/E/G ratio of 1.16 and a beta of 1.29.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The firm had revenue of $25.82 billion for the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a net margin of 41.67% and a return on equity of 31.43%. On average, analysts anticipate that Taiwan Semiconductor Manufacturing will post 9.2 EPS for the current year.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of institutional investors and hedge funds have recently made changes to their positions in TSM. Michael S. Ryan Inc. lifted its position in Taiwan Semiconductor Manufacturing by 1.7% during the 2nd quarter. Michael S. Ryan Inc. now owns 3,239 shares of the semiconductor company's stock valued at $734,000 after purchasing an additional 53 shares during the period. HBW Advisory Services LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter worth approximately $2,679,000. Kera Capital Partners Inc. acquired a new position in Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $205,000. Private Client Services LLC boosted its stake in Taiwan Semiconductor Manufacturing by 9.7% in the second quarter. Private Client Services LLC now owns 1,477 shares of the semiconductor company's stock valued at $335,000 after acquiring an additional 130 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in Taiwan Semiconductor Manufacturing by 15.2% during the 1st quarter. Voya Investment Management LLC now owns 2,698,437 shares of the semiconductor company's stock worth $447,896,000 after acquiring an additional 355,766 shares during the period. Institutional investors own 16.51% of the company's stock.

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.