Price Action to Note: What’s in Taiwan Semiconductor Mfg. Co. Ltd. (ADR) After Touching 52-Week High?

Price Action to Note: What's in Taiwan Semiconductor Mfg. Co. Ltd. (ADR) After Touching 52 Week High?

The stock of Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) hit a new 52-week high and has $47.38 target or 52.00% above today’s $31.17 share price. The 7 months bullish chart indicates low risk for the $157.84B company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $47.38 price target is reached, the company will be worth $82.08 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 3.37M shares traded hands. Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) has risen 24.83% since March 4, 2016 and is uptrending. It has outperformed by 16.79% the S&P500.

Analysts await Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) to report earnings on October, 20.

Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) Ratings Coverage

Out of 3 analysts covering Taiwan Semiconductor Manufacturing (NYSE:TSM), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Taiwan Semiconductor Manufacturing has been the topic of 6 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The stock of Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) has “Outperform” rating given on Friday, December 11 by Credit Suisse. The company was downgraded on Tuesday, June 28 by Goldman Sachs. The firm has “Neutral” rating given on Tuesday, October 4 by Susquehanna.

According to Zacks Investment Research, “Taiwan Semiconductor Manufacturer Co is the world’s largest dedicated integrated circuit foundry. As a foundry, the Company manufactures ICs for its customers based on their proprietary IC designs using its advanced production processes. TSMC’s goal is to establish itself as one of the world’s leading semiconductor companies by building upon the strengths that have made it the leading IC foundry in the world.”

More news for Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) were recently published by: Marketwatch.com, which released: “Taiwan Semiconductor Manufacturing Co. Ltd. ADR” on July 30, 2009. Fool.com‘s article titled: “3 Things Taiwan Semiconductor Mfg. Co. Ltd (ADR) Management Wants You to Know” and published on November 02, 2015 is yet another important article.

TSM Company Profile

Taiwan Semiconductor Manufacturing Company Limited, incorporated on February 21, 1987, is a foundry, which makes semiconductors using its manufacturing processes for its clients based on their own or third parties’ integrated circuit designs. The Firm offers a range of wafer fabrication processes, including processes to manufacture complementary metal oxide silicon (CMOS) logic, mixed-signal, radio frequency, embedded memory, bipolar complementary metal oxide silicon (BiCMOS) mixed-signal and other semiconductors. It operates through the foundry segment, which engages mainly in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices and the manufacturing of masks. The Firm also has other operating divisions, which engage in the researching, developing, designing, manufacturing and selling of solid state lighting devices and renewable energy and efficiency related technologies and products. The Firm also offers design, bumping, probing, and assembly and testing services.

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