Stock Alert: Taiwan Semiconductor Shares Hit 52-Week High

(RTTNews) - Shares of Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) have been trading between $39.78 and $67.99 in the past one year, and touched a 52-week high of $67.99 Friday morning. TSM is currently trading at $67.35, up 76 cents or 1.13%.

The company, on Thursday, reported second quarter net income of NT$120.82 billion, and earnings per share of NT$4.66 (US$0.78 per ADR unit). Net income and earnings per share both rose 81.0% year-on-year. Gross margin was 53.0%, operating margin was 42.2%, and net profit margin was 38.9%, for the quarter.

Second quarter consolidated revenue was NT$310.70 billion, up 28.9% from last year. In US dollars, revenue was $10.38 billion, up 34.1% year-over-year.

For third quarter 2020, the company projects: revenue to be between US$11.2 billion and US$11.5 billion; gross profit margin to be between 50% and 52%; and operating profit margin to be between 39% and 41%. The company anticipates 2020 capital budget to be between US$16 billion and US$17 billion.