Equity Analysts at HSBC Cut Taiwan Semi (NYSE:TSM) from Buy to Hold Rating

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HSBC Securities Analyst Rating Change Taiwan Semi NYSE:TSM

Taiwan Semi (NYSE:TSM) Change of Rating

HSBC lowered Taiwan Semi (NYSE:TSM)’s stock to Hold rating from Buy. This rating change was released in an analyst note today.

The stock rating downgrade was most probably noticed by equity traders, as NYSE:TSM is currently trading -4.11% lower at $30.06 as of 11:24 New York time. Taiwan Semi’s stock is up 36.25% in the past 200 days. It has outperformed the S&P 500, which has added 4.02% in the same time period.

Out of 5 brokers covering Taiwan Semi, 3 rate it a Buy, 1 indicate a Hold while 2 suggest a Sell. The highest target is $32 and the lowest is $17 according to Thomson/First Call. The 12-month mean target is $25.46, which means downside potential of 15.30% over the current price.

NYSE:TSM Price Chart & Trend

The stock price of Taiwan Semi risen 36.25% over the last 200 days, and is in powerful up trend. In the last 50 and 100 days, Taiwan Semi is up 11.33% and up 36.04%, respectively. Our stocks momentum model is shown on the price chart below. Equity Analysts at HSBC Cut Taiwan Semi (NYSE:TSM) from Buy to Hold Rating

Source: RightEdge Systems, Yahoo Split & Dividend Adjusted Data and OctaFinance Trading Models

Taiwan Semi (NYSE:TSM) Profile

Taiwan Semiconductor Manufacturing Company Limited is a foundry, which manufactures semiconductors using its manufacturing processes for its customers based on their own or third parties’ integrated circuit designs. The Company offers a range of wafer fabrication processes, including processes to manufacture complementary metal oxide silicon logic, mixed-signal, radio frequency, embedded memory, bipolar complementary metal oxide silicon mixed-signal and other semiconductors. It operates through foundry segment, which engages in manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices and the manufacturing of masks.

Taiwan Semi (NYSE:TSM) traded down -4.11% on 13 October, hitting $30.06. A total of 9.95M shares of the company’s stock traded hands. This is up from average of 6.58M shares. Taiwan Semi has a 52 week low of $20.45 and a 52 week high of $31.48. The company has a market cap of $152.26B and a P/E ratio of 17.27.

Get the latest Taiwan Semi (NYSE:TSM) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

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