Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 1.7%

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) were up 1.7% on Wednesday . The stock traded as high as $144.26 and last traded at $143.53. Approximately 4,228,545 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 15,257,418 shares. The stock had previously closed at $141.11.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TSM shares. TD Cowen lifted their price objective on Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the stock a “hold” rating in a report on Thursday, April 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $168.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, April 18th. Barclays lifted their price objective on Taiwan Semiconductor Manufacturing from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. StockNews.com raised Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Finally, Susquehanna boosted their price target on Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing presently has a consensus rating of “Moderate Buy” and an average target price of $157.00.

Taiwan Semiconductor Manufacturing Price Performance

The firm’s fifty day simple moving average is $138.94 and its two-hundred day simple moving average is $117.51. The company has a quick ratio of 2.06, a current ratio of 2.33 and a debt-to-equity ratio of 0.27. The firm has a market cap of $771.53 billion, a PE ratio of 27.20, a P/E/G ratio of 1.01 and a beta of 1.13.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 6.1% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 11,360 shares of the semiconductor company’s stock valued at $1,546,000 after purchasing an additional 652 shares during the last quarter. AI Squared Management Ltd bought a new position in Taiwan Semiconductor Manufacturing during the first quarter valued at approximately $9,714,000. First Foundation Advisors purchased a new position in Taiwan Semiconductor Manufacturing during the 1st quarter valued at approximately $151,000. M&G Plc bought a new stake in Taiwan Semiconductor Manufacturing in the 1st quarter worth approximately $18,928,000. Finally, Forge First Asset Management Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 1st quarter worth approximately $5,882,000. 16.51% of the stock is owned by hedge funds and other institutional investors.

About Taiwan Semiconductor Manufacturing

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.