Shares of semiconductor major Taiwan Semiconductor (NYSE:TSM) are in focus today after the company’s revenue declined by 14.4% month-over-month to NT$176.3 billion in December 2023. This was an 8.4% decline in the company’s top line compared to the prior year period.
Further, TSM’s 2023 revenue dropped by 4.5% to NT$2,161.74 billion. According to Reuters, TSM saw revenue of $20.10 billion in the fourth quarter. This figure stood at $19.93 billion in the year-ago quarter. The company had estimated revenue of $18.8 billion to $19.6 billion for Q4.
TSM’s fourth quarter results are coming up on January 18. Analysts expect the company to generate an EPS of $1.37 on revenue of $19.55 billion for the quarter. In the comparable year-ago period, TSM’s EPS of $1.87 had comfortably outperformed estimates by $0.12.
What is the Target Price for TSM?
Amid broader market optimism, TSM’s share price has gained nearly 27% over the past year. Recently, Bernstein’s Mark Li reiterated a Buy rating on the stock while increasing the price target to $125 from $113. While the overall consensus rating for TSM remains a Strong Buy among analysts, the average TSM price target of $107.50 points to a modest 5.5% potential upside in the stock.
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