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Strong Upward Pre-Market Activity For Taiwan Semiconductor Manufacturing (TSM)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Taiwan Semiconductor Manufacturing ( TSM) as a pre-market leader candidate. In addition to specific proprietary factors, Trade-Ideas identified Taiwan Semiconductor Manufacturing as such a stock due to the following factors:

  • TSM has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $186.2 million.
  • TSM traded 20,385 shares today in the pre-market hours as of 9:02 AM.
  • TSM is up 2.1% today from yesterday's close.

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More details on TSM:

Taiwan Semiconductor Manufacturing Company Limited engages in the computer-aided design, manufacture, packaging, testing, sale, and marketing of integrated circuits and other semiconductor devices. The stock currently has a dividend yield of 2.2%. TSM has a PE ratio of 17.2. Currently there is 1 analyst that rates Taiwan Semiconductor Manufacturing a buy, no analysts rate it a sell, and none rate it a hold.

The average volume for Taiwan Semiconductor Manufacturing has been 10.2 million shares per day over the past 30 days. Taiwan Semiconductor has a market cap of $93.5 billion and is part of the technology sector and electronics industry. Shares are up 3.4% year-to-date as of the close of trading on Tuesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Taiwan Semiconductor Manufacturing as a buy. Among the primary strengths of the company is its revenue growth. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:

  • Despite its growing revenue, the company underperformed as compared with the industry average of 5.0%. Since the same quarter one year prior, revenues slightly increased by 2.7%. This growth in revenue does not appear to have trickled down to the company's bottom line, displaying stagnant earnings per share.
  • TAIWAN SEMICONDUCTOR MFG CO reported flat earnings per share in the most recent quarter. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, TAIWAN SEMICONDUCTOR MFG CO increased its bottom line by earning $1.21 versus $1.10 in the prior year. This year, the market expects an improvement in earnings ($1.40 versus $1.21).
  • In its most recent trading session, TSM has closed at a price level that was not very different from its closing price of one year earlier. This is probably due to its weak earnings growth as well as other mixed factors. Looking ahead, although the push and pull of the overall market trend could certainly make a critical difference, we do not see any strong reason stemming from the company's fundamentals that would cause a continuation of last year's decline. In fact, the stock is now selling for less than others in its industry in relation to its current earnings.
  • The company, on the basis of change in net income from the same quarter one year ago, has underperformed when compared to that of the S&P 500 and the Semiconductors & Semiconductor Equipment industry average. The net income has decreased by 0.5% when compared to the same quarter one year ago, dropping from $1,466.10 million to $1,458.32 million.

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