JP Morgan Downgrades Taiwan Semiconductor Mfg. Co. Ltd. (ADR) to Neutral

Brokerage firm JP Morgan Downgrades its rating on Taiwan Semiconductor Mfg. Co. Ltd. (ADR)(NYSE:TSM). The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by JP Morgan was issued on Jul 12, 2016.

Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (TSM) shares turned negative on Fridays trading session with the shares closing down -0.1 points or -0.37% at a volume of 59,96,500. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $27.26. The peak price level was also seen at $27.26 while the days lowest was $26.97. Finally the shares closed at $27.01. The 52-week high of the shares is $27.37 while the 52-week low is $17.32. According to the latest information available, the market cap of the company is $140,076 M.

Taiwan Semiconductor Mfg. Co. Ltd. (ADR)(TSM) last announced its earnings results on Jan 14, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $6.24B. Analysts had an estimated revenue of $6.20B. Earnings per share were $0.43. Analysts had estimated an EPS of $0.4.

Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) is a Taiwan-based company principally engaged in the manufacturing selling packaging testing and computer-aided design of integrated circuits (ICs) and other semiconductor devices and the manufacturing of masks. The Company also offers a range of wafer fabrication processes including processes to manufacture CMOS (complementary metal oxide silicon) logic mixed-signal radio frequency (RF) embedded memory BiCMOS (bipolar complementary metal oxide silicon) mixed-signal and other semiconductors. It also offers design mask making bumping probing and assembly and testing services. TSMC operates one 150-millimeter wafer fab six 200-millimeter wafer fabs and three 300-millimeter wafer fabs. The Company manufactures different types of semiconductors with different specific functions. The Company’s semiconductor types include logic semiconductors mixed-signal/RF semiconductors and CMOS image sensor semiconductors.

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