TSM Price Target Raised Amid Diversification of Customers and Products

Susquehanna's Mehdi Hosseini raised their price target on Taiwan Semiconductor Manufacturing Co (NYSE: TSM) by 11.1% from $180 to $200 on 2024/06/17. The analyst maintained their Strong Buy rating on the stock.

According to Susquehanna's channel checks in Taiwan and on the supply chain, there is further diversification of customers and products for Taiwan Semiconductor Manufacturing Co's N3, N4, and N5 nodes. Hosseini reported that this diversification is expected to boost blended wafer average selling prices (ASPs). The company seems to be leading the market segment due to the increased diversity of customers and products.

Additionally, on June 17, 2024, the analyst raised their price target on Micron Technology Inc by 29.4%, from $143 to $185, while maintaining their Strong Buy rating.

The positive sentiment towards Taiwan Semiconductor Manufacturing Co is reflected in analyst ratings. Currently, 100% of top-rated analysts rate TSM as a Strong Buy or Buy. No analysts see it as a Hold, and no analysts recommend selling the stock.

Analysts have a consensus forecast for TSM's upcoming year, expecting earnings per share (EPS) of $6.32. If these analysts are correct, TSM's next yearly EPS will see a 20.7% increase on a year-over-year basis.

In terms of stock performance, TSM has shown impressive gains. Since the company's last quarterly report on March 31, 2024, the stock price has increased by 30.3%. On a year-over-year basis, the stock is up 70.5%. TSM has outperformed the S&P 500, which has seen a 24.7% increase during the same period.

Susquehanna analyst Mehdi Hosseini is highly regarded, ranking in the top 14% out of 4,604 Wall Street analysts according to WallStreetZen. With an average return of 7.5% and a win rate of 50.5%, Hosseini specializes in the Industrials and Technology sectors.

Taiwan Semiconductor Manufacturing Company Limited, headquartered in Hsinchu City, Taiwan, is a leading manufacturer and seller of integrated circuits and other semiconductor devices. The company operates in Taiwan, the U.S., and internationally, providing customer support, account management, engineering services, and products for various sectors including mobile devices, high-performance computing, automotive electronics, and the Internet of Things (IoT).

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