Taiwan Semiconductor Rises On Unusually High Volume (TSM)
Taiwan Semiconductor Manufacturing (NYSE:TSM) is trading at unusually high volume Thursday with 19.3 million shares changing hands. It is currently at two times its average daily volume and trading up 87 cents (+5.1%).
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Taiwan Semiconductor Manufacturing (NYSE: TSM) is trading at unusually high volume Thursday with 19.3 million shares changing hands. It is currently at two times its average daily volume and trading up 87 cents (+5.1%) at $17.95 as of 3:06 p.m. ET.
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Taiwan Semiconductor has a market cap of $89.39 billion and is part of the technology sector and electronics industry. Shares are down 0.5% year to date as of the close of trading on Wednesday. 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 company has a P/E ratio of 16.4, below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Taiwan Semiconductor as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Taiwan Semiconductor Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100% See his top picks for 14-days FREE.