Chunghwa Telecom (NYSE:CHT) Hits New 52-Week High – Time to Buy?

Chunghwa Telecom Co., Ltd. (NYSE:CHT) shares hit a new 52-week high on Monday. The stock traded as high as $48.99 and last traded at $48.5690, with a volume of 153,005 shares trading hands. The stock had previously closed at $48.51.

Analysts Set New Price Targets

CHT has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chunghwa Telecom in a research report on Thursday, October 15th. Zacks Research upgraded Chunghwa Telecom from a “strong sell” rating to a “hold” rating in a report on Thursday, September 17th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company has a consensus rating of “Hold”.

Chunghwa Telecom Trading Up 0.8%

The stock has a 50 day moving average price of $45.43 and a two-hundred day moving average price of $43.69.

Chunghwa Telecom (NYSE:CHT) last posted its quarterly earnings data on Monday, October 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter. The company had revenue of $2.12 billion for the quarter. As a group, research analysts forecast that Chunghwa Telecom Co., Ltd. will post 1.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Chunghwa Telecom

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Chunghwa Telecom by 52.5% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 2,107 shares of the utilities provider’s stock valued at $96,000 after buying an additional 725 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Chunghwa Telecom by 76.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 872 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 377 shares during the period. Diversify Advisory Services LLC purchased a new position in Chunghwa Telecom in the 3rd quarter worth $228,000. 55 North Private Wealth LLC purchased a new position in Chunghwa Telecom in the 3rd quarter worth $235,000. Finally, Cordatus Wealth Management LLC raised its stake in Chunghwa Telecom by 2.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 11,284 shares of the utilities provider’s stock worth $513,000 after acquiring an additional 277 shares during the last quarter. 2.11% of the stock is currently owned by institutional investors and hedge funds.

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd. is Taiwan’s largest integrated telecommunications provider and the country’s former state-owned telecommunications operator. The company was established in 1996 following the corporatization of Taiwan’s Directorate General of Telecommunications and was subsequently privatized. Chunghwa Telecom is headquartered in New Taipei City, Taiwan.

The company provides fixed-line voice services, mobile communications, broadband internet access, and related digital communications products.