Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) traded today at a new 52-week high of $139.81. Approximately 4.2 million shares have changed hands today, as compared to an average 30-day volume of 14.1 million shares.
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.
Taiwan Semiconductor Manufacturing Company Ltd. share prices have moved between a 52-week high of $139.81 and a 52-week low of $42.70 and are now trading 224% above that low price at $138.23 per share.
There is potential upside of 6.3% for shares of Taiwan Semiconductor Manufacturing Company Ltd. based on a current price of $138.23 and an average consensus analyst price target of $146.97.
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