Taiwan Semiconductor Mfg. Co. Rating Increased to Buy at CLSA (TSM)
Taiwan Semiconductor Mfg. Co. (NYSE: TSM) was upgraded by investment analysts at CLSA from an “outperform” rating to a “buy” rating in a note issued to investors on Friday.
Shares of Taiwan Semiconductor Mfg. Co. traded down 3.41% during mid-day trading on Friday, hitting $15.60. Taiwan Semiconductor Mfg. Co. has a one year low of $10.75 and a one year high of $16.15. The company has a market cap of $80.863 billion and a P/E ratio of 18.67.
The company last announced its quarterly results on Thursday, April 26th. It reported $1.29 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.14 EPS by $0.15. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts predict that Taiwan Semiconductor Mfg. Co. will post $0.23 earnings per share next quarter.
Separately, analysts at Bank of America (NYSE: BAC) downgraded shares of Taiwan Semiconductor Mfg. Co. from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, February 21st.
Taiwan Semiconductor Manufacturing Co, Ltd. is a Taiwan-based company principally engaged in the research, development, manufacture and distribution of integrated circuit (IC) related products.