Analysts at Zacks Investment Research upgraded shares of Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) from Hold to Buy today. Zacks Investment Research currently has a rating of Buy on the stock. The one-year price target of $27.15 is a decrease compared to the opening price of $30.09, resulting a number of other analysts to comment on the stock recently. Looking back over the last year, Taiwan Semiconductor Manufacturing Co. stock has a high of $30.56. Stock prices sometimes get a jump to the upside when analysts upgrade a stock.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Yesterday Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) shares last traded at $30.50, which represents a spike of $0.60 over the previous closing price. Opening at $30.09, they fluctuated from $30.05 and $30.56 throughout the day.
Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) now has a market cap of 158.18B.
8,097,188 shares crossed the trading desk yesterday, above normal, out of a total float 4,806,299,000. Significant gains in trading volume and price appreciation together could indicate considerable volume accumulation by institutional investors.
As with all possible breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
Trades for Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) have ranged from $19.49 – 30.56, and the stock now has a 50-day MA of $29.02 and 200-day MA of $26.43. Today’s last price is 0.00% under the 52 week high of $30.56.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have been successful at growing their earnings at least 25% or more over the past 3 years.
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