Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM) traded down 0.06% as it lost -0.05 on Thursday. The semiconductors company has surpassed Wall Street’s target for the third quarter. The company has posted the third-quarter earnings which were ended on September 30, 2020. Taiwan Semiconductor Manufacturing Company Limited reported the diluted earnings per share of NT$5.30, the consolidated revenue of NT$356.43 billion, and an income of NT$137.31 billion.
The semiconductor company has reported that its third-quarter revenue rose 21.6% while its net income and diluted assets rose 35.9%. If we look at the company’s third-quarter revenue it has reported an increase of 14.7% and its net income rose 13.6%. Taiwan Semiconductor company’s Gross Margin was 53.4% and the net profit margin was 38.5%. TSM has an operating margin of 42.1%.
Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM) shares were trading down 0.06% at $88.55 at the time of writing on Thursday. Taiwan Semiconductor Manufacturing Company Limited share price went from a low point around $42.70 to briefly over $91.27 in the past 52 weeks, though shares have since pulled back to $88.55. TSM market cap has remained high, hitting $408.98 billion at the time of writing.
Taiwan has also provided a strong quarter fourth revenue outlook which surpassed the analyst’s expectations. The company anticipated that the demand for industry-leading 5-nanometer technology, driven by 5G smartphone launches and HPC-related applications is increasing. Susquehanna analyst Mehdi Hosseini has reiterated his sell rating on the stock of TSM before the release of its earnings on October 12, 2020. It has set the price target of $55.
