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TSM

TSMC

$35.61

0.71 (2.03%)

05:40
01/10/19
01/10
05:40
01/10/19
05:40

TSMC reports December revenue NT$89.83B, down 0.1% y/y

TSMC announced its net revenues for December 2018: On a consolidated basis, revenues for December 2018 were approximately NT$89.83B, a decrease of 8.7% from November 2018 and a decrease of 0.1% from December 2017. Revenues for January through December 2018 totaled NT$1,031.47B, an increase of 5.5% compared to the same period in 2017.

TSM TSMC
$35.61

0.71 (2.03%)

11/16/18
11/16/18
DOWNGRADE

Underweight
UMC downgraded to Underweight on broadening semi down cycle at Morgan Stanley
As previously reported, Morgan Stanley analyst Charlie Chan downgraded UMC (UMC) to Underweight from Equal Weight, citing evidence that the semi down cycle is broadening, with bad news in the smartphone supply chain now emerging following signs of weakness in automotive, industrial and cloud semis over the past few months. He lowered his price target on UMC shares to NT$9.60 from NT$13.30 while also lowering his Greater China Semiconductors industry view to Cautious. Chan also downgraded TSMC (TSM) to Equal Weight from Overweight.
11/16/18
11/16/18
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. Home Depot (HD) downgraded to Neutral from Buy at BofA/Merrill with analyst Elizabeth Suzuki saying peak growth has passed. 2. J.C. Penney (JCP) downgraded to Sell from Hold at Argus with analyst John Eade saying he anticipates continued losses for the stock for the next two years while also warning that at a current share price below $2, the company is operating with a more elevated risk. 3. Nvidia (NVDA) was downgraded to Neutral from Buy at B. Riley FBR and to Buy from Conviction Buy at Goldman Sachs. 4. Michael Kors (KORS) downgraded to Perform from Outperform at Oppenheimer with analyst Brian Nagel saying he is "concerned" that ongoing challenges with inventory management and replenishment at the company's namesake brand and softness within fashion watches will weigh on top-line trends and potentially margins, just as management begins the integration of Versace. 5. TSMC (TSM) was downgraded to Equal Weight from Overweight at Morgan Stanley while UMC (UMC) was downgraded to Underweight from Equal Weight. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/30/18
LYON
11/30/18
DOWNGRADE
LYON
Outperform
TSMC downgraded to Outperform from Buy at CLSA
12/11/18
COWN
12/11/18
NO CHANGE
Target $26
COWN
Outperform
AMD rallies after Cowen names a best idea for 2019
Shares of AMD (AMD) are moving higher after Cowen named the stock one of its best ideas for 2019. Despite some "well-known" graphics processing unit headwinds in the first half of 2019, AMD will see an "important revenue inflection" in the second half of the year as its fully refreshed lineup moves from 14nm to 7nm at TSMC (TSM), Cowen analyst Matthew Ramsay told investors earlier in a research note. He believes this will mark AMD's first manufacturing advantage versus competitor Intel (INTC). The analyst thinks Intel's Moore's Law advantages entering 2019 "have been largely eroded and should open opportunities" for AMD and other competitors on the 7nm node at TSMC. These opportunities could materialize across AMD's business and "re-shift investor focus toward the longer-term opportunity versus near-term GPU headwinds," contends Ramsay. The analyst has an Outperform rating on AMD with a $26 price target. The stock in morning trading is up 3%, or 54c, to $20.53.

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WFAFY

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