Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) traded at a new 52-week high today of $132.68. This new high was reached on above average trading volume as 15.6 million shares traded hands, while the average 30-day volume is approximately 9.5 million shares.
Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) is currently priced 34.0% above its average consensus analyst price target of $87.55.
Taiwan Semiconductor Manufacturing Company, or TSMC, is the world”s largest dedicated chip foundry, with over 50% market share in 2019 per Gartner. TSMC was founded in 1987 as a joint venture of Philips, the government of Taiwan, and private investors. It went public as an ADR in the U.S. in 1997. TSMC”s scale and high-quality technology allow the firm to generate solid operating margins, even in the highly competitive foundry business. Furthermore, the shift to the fabless business model has created tailwinds for TSMC. The foundry leader has an illustrious customer base, including Apple and Nvidia, that looks to apply cutting-edge process technologies to its semiconductor designs.
In the past 52 weeks, shares of Taiwan Semiconductor Manufacturing Company Ltd. have traded between a low of $42.70 and a high of $132.68 and is now at $132.62, which is 211% above that low price.
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