Taiwan Semiconductor Mfg. (TSM) Shares Gap Down After Earnings Miss

Shares of Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $39.13, but opened at $39.53. Taiwan Semiconductor Mfg. shares last traded at $38.98, with a volume of 8409554 shares.

The semiconductor company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The business had revenue of $248.08 billion for the quarter, compared to analyst estimates of $250.89 billion. Taiwan Semiconductor Mfg. had a return on equity of 23.73% and a net margin of 35.08%. Taiwan Semiconductor Mfg.’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $3.38 EPS.

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A number of equities analysts have weighed in on TSM shares. HSBC raised Taiwan Semiconductor Mfg. from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Goldman Sachs raised Taiwan Semiconductor Mfg. from a “neutral” rating to a “buy” rating in a research report on Monday, January 22nd. Zacks Investment Research raised Taiwan Semiconductor Mfg. from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Thursday, March 22nd. ValuEngine raised Taiwan Semiconductor Mfg. from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Credit Suisse Group raised Taiwan Semiconductor Mfg. from a “neutral” rating to an “outperform” rating in a research report on Tuesday, February 20th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $46.00.

Institutional investors have recently bought and sold shares of the company. Atlantic Trust Group LLC acquired a new position in shares of Taiwan Semiconductor Mfg. in the third quarter valued at approximately $2,995,000. Diversified Trust Co grew its position in Taiwan Semiconductor Mfg. by 18.7% during the fourth quarter. Diversified Trust Co now owns 78,981 shares of the semiconductor company’s stock worth $3,132,000 after buying an additional 12,430 shares in the last quarter. Thomas White International Ltd. grew its position in Taiwan Semiconductor Mfg. by 5.2% during the fourth quarter. Thomas White International Ltd. now owns 519,573 shares of the semiconductor company’s stock worth $20,601,000 after buying an additional 25,528 shares in the last quarter. Maverick Capital Ltd. grew its position in Taiwan Semiconductor Mfg. by 82.3% during the fourth quarter. Maverick Capital Ltd. now owns 165,220 shares of the semiconductor company’s stock worth $6,551,000 after buying an additional 74,580 shares in the last quarter. Finally, NINE MASTS CAPITAL Ltd acquired a new stake in Taiwan Semiconductor Mfg. during the fourth quarter worth approximately $3,907,000. 19.28% of the stock is currently owned by institutional investors.

The stock has a market capitalization of $217,397.11, a PE ratio of 17.98, a P/E/G ratio of 1.12 and a beta of 0.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.39 and a quick ratio of 2.18.

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About Taiwan Semiconductor Mfg.

Taiwan Semiconductor Manufacturing Company Limited., together with its subsidiaries, engages in the computer-aided design, manufacture, packaging, testing, sale, and marketing of integrated circuits, color filters, and other semiconductor devices primarily in Taiwan. It manufactures masks and electronic parts; sells solar related products; wholesales and retails electronic materials; and researches, develops, and tests RFID systems.

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