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TSM

TSMC

$31.35

0.62 (2.02%)

07:04
10/13/16
10/13
07:04
10/13/16
07:04

TSMC sees Q4 revenue of NT$255B-NT$258B

Compares to Q3 revenue of NT$260.41B. Sees Q4 gross profit margin to be between 50.5% and 52.5%; Operating profit margin is expected to be between 40% and 42%. The management further expects the 2016 capital budget to be slightly above $9.5B.

TSM TSMC
$31.35

0.62 (2.02%)

07/12/16
07/12/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wal-Mart (WMT) downgraded to Neutral from Buy at Northcoast with analyst Chuck Cerankosky citing valuation. 2. TSMC (TSM) downgraded to Neutral from Overweight at JPMorgan and to Neutral from Buy at Nomura. 3. Armstrong World (AWI) downgraded to Sell from Neutral at Goldman with the firm saying it believes that limited volume growth and raw material inflation headwinds are likely to limit earnings power, while capital intensity limits free cash flow and returns. 4. Cognizant (CTSH) downgraded to Neutral from Buy at SunTrust with the firm saying its IT Service poll shows "signs of weaker pricing," while the company is poised to be hurt by currency fluctuations, lower European revenue, and weakness in the healthcare sector stemming from insurance mergers. 5. Imperva (IMPV) downgraded to Hold from Buy at Deutsche Bank with analyst Imtiaz Koujalgi saying a lack of visibility into FY16 numbers is "another risk for the stock" after the company last night lowered its second quarter revenue outlook. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/14/16
DAIW
07/14/16
DOWNGRADE
DAIW
Outperform
TSMC downgraded to Outperform from Buy at Daiwa
10/04/16
SUSQ
10/04/16
UPGRADE
SUSQ
Neutral
TSMC upgraded to Neutral from Negative at Susquehanna
10/04/16
SUSQ
10/04/16
UPGRADE
Target $28
SUSQ
Neutral
TSMC upgraded to Neutral at Susquehanna
As reported previously, Susquehanna analyst Mehdi Hosseini upgraded TSMC to Neutral from Negative. The analyst increased his estimates to reflect mild seasonality, continued elevation rates, minimal selling price erosion, and the company's dominance in the 10nm foundry market. Hosseini raised his price target to $28 from $20 on TSMC shares.

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