The chipmaker reaffirmed its 2025 guidance even in the face of tariffs
Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) stock is up 0.4% to trade at $152.23 today, after the chipmaker reported a first-quarter earnings beat. More importantly, the company maintained its revenue forecast for 2025, noting they have "yet to see any changes in customer behavior," despite there being "uncertainties and risks from the potential impact of tariff policies."
TSM initially traded as high as $157.50 out of the gate this morning, but has since succumbed to broader tech sector pressures. Year-to-date, the shares are off 32% after falling from their Jan. 24 record high of $226.40, breaching their 320-day moving average to start the month. Year-over-year, the +10% breakeven level is holding firm today.
If the stock continues to languish, keep an eye on analysts. Of the 11 brokerages covering TSM, 10 maintain a "buy" or better stance, with zero "sells" on the books. Plus, the consensus 12-month price target of $220.66 is a 44.5% premium from the equity's current perch.
Options traders have been betting bearishly. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), TSM's 10-day put/call volume ratio of 0.83 ranks in 90th percentile of its annual range. So while calls still outflank puts on an absolute basis, the high percentile indicates puts have rarely been more popular.
Today, calls have the edge. At last check, 81,000 calls have changed hands, volume that's double the average intraday amount. The April 160 call expiring at the close today is seeing the most attention, with new positions being bought to open.