Taiwan Semiconductor Stock Pops on Possible Japan Plans

Price-target hikes could still boost TSM

Fernanda Horner

Digital Content Manager

Mar 18, 2024 at 10:18 AM

Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) is considering building advanced packaging capacity in Japan, which could boost the country's semiconductor industry. The security is up 2.7% at $140.28 at last check, climbing back towards its March 8, all-time high of $158.40, with support from the 20-day moving average. TSM is already up more than 34% in 2024.

The brokerage bunch leans bullish, with eight of nine analysts in coverage calling Taiwan Semiconductor stock a "buy" or better. Bull notes could still be on the horizon, though, as the equity's 12-month consensus price target of $133.14 is still a 5.5% discount to current trading levels.

That optimism is echoed in the options pits, where TSM's 50-day call/put volume ratio of 3.28 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands higher than all readings from the last 12 months. This means calls have been much more popular than usual.

Follow @Schaeffers

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!