#3 - Taiwan Semiconductor Manufacturing Company (NYSE:TSM)
Taiwan Semiconductor Manufacturing Company (NYSE: TSM) is up 56% in the last 12 months fueled by the demand for artificial intelligence (AI) applications. At about 22x forward earnings as of this writing, TSM stock isn't too expensive, but some analysts are concerned that much of the growth is priced in.
On the other hand, Taiwan Semiconductor stands to receive $5 billion in U.S. government grants for setting up a chipmaking plant in Arizona. The company has plans to invest $40 billion to build a plant in Arizona. That would be one of the largest foreign investments in U.S. history.
That said, TSM stock is down about 5.25% in the last month. And that could be a very good thing for investors looking to take a position. The Taiwan Semiconductor Analyst Ratings on MarketBeat give the stock a Moderate Buy rating with a $138.25 price target. That tells investors to wait for a pullback in TSM stock before taking a position.
About Taiwan Semiconductor Manufacturing
Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, manufactures, packages, tests, and sells integrated circuits and other semiconductor devices in Taiwan, China, Europe, the Middle East, Africa, Japan, the United States, and internationally. It provides a range of wafer fabrication processes, including processes to manufacture complementary metal- oxide-semiconductor (CMOS) logic, mixed-signal, radio frequency, embedded memory, bipolar CMOS mixed-signal, and others.
Read More - Current Price
- $186.01
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 4 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $209.00 (12.4% Upside)
