Needham & Company LLC Raises Taiwan Semiconductor Manufacturing (NYSE:TSM) Price Target to $530.00

Taiwan Semiconductor Manufacturing (NYSE:TSM) had its target price boosted by analysts at Needham & Company LLC from $480.00 to $530.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 31.45% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Monday, July 6th. Zacks Research raised shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. TD Cowen raised their price target on shares of Taiwan Semiconductor Manufacturing from $400.00 to $440.00 and gave the stock a “hold” rating in a report on Friday, July 17th. Finally, Susquehanna lifted their price objective on shares of Taiwan Semiconductor Manufacturing from $575.00 to $600.00 and gave the stock a “positive” rating in a research note on Thursday, July 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $496.25.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM stock opened at $403.18 on Monday. Taiwan Semiconductor Manufacturing has a 12-month low of $223.70 and a 12-month high of $479.00. The business’s fifty day simple moving average is $427.67 and its 200-day simple moving average is $382.14. The company has a current ratio of 2.49, a quick ratio of 2.31 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.09 trillion, a PE ratio of 29.09, a PEG ratio of 0.93 and a beta of 1.36.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Tuesday, June 30th. The semiconductor company reported $4.28 earnings per share for the quarter. Taiwan Semiconductor Manufacturing had a return on equity of 40.88% and a net margin of 50.31%.The firm had revenue of $39.89 billion for the quarter. Analysts expect that Taiwan Semiconductor Manufacturing will post 16.34 earnings per share for the current fiscal year.

Insider Activity at Taiwan Semiconductor Manufacturing

In other Taiwan Semiconductor Manufacturing news, VP Lipen Yuan bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average cost of $79.19 per share, for a total transaction of $79,190.00. Following the completion of the transaction, the vice president directly owned 5,000 shares of the company’s stock, valued at approximately $395,950. This trade represents a 25.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Tzu-Sou Chuang sold 200,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $69.83, for a total transaction of $13,966,000.00. Following the completion of the sale, the vice president directly owned 2,495,165 shares in the company, valued at approximately $174,237,371.95. The trade was a 7.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders acquired 6,857 shares of company stock worth $512,334 over the last three months. Company insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Twin City Private Wealth LLC increased its holdings in Taiwan Semiconductor Manufacturing by 0.3% in the first quarter. Twin City Private Wealth LLC now owns 7,315 shares of the semiconductor company’s stock valued at $2,479,000 after buying an additional 25 shares in the last quarter. Graves Light Lenhart Wealth Inc. grew its position in shares of Taiwan Semiconductor Manufacturing by 3.4% during the 2nd quarter. Graves Light Lenhart Wealth Inc. now owns 752 shares of the semiconductor company’s stock valued at $359,000 after acquiring an additional 25 shares during the period. OFS Enterprise LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 4.0% during the 2nd quarter. OFS Enterprise LLC now owns 653 shares of the semiconductor company’s stock valued at $312,000 after acquiring an additional 25 shares during the period. Wealthcare Capital Partners LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 1.0% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 2,606 shares of the semiconductor company’s stock valued at $1,244,000 after purchasing an additional 25 shares in the last quarter. Finally, Elser Financial Planning Inc increased its stake in shares of Taiwan Semiconductor Manufacturing by 2.4% in the 2nd quarter. Elser Financial Planning Inc now owns 1,081 shares of the semiconductor company’s stock valued at $516,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 16.51% of the company’s stock.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC’s service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.