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TSMC analysis (#TSM)

TSMC analysis (#TSM)

24 March 2021

TSMC (Taiwan Semiconductor Manufacturing Company) is a Taiwanese semiconductor research and production company. Founded in 1987 by the government of the Republic of China (Taiwan) and private investors. The company currently employs over 48,000 people worldwide. To service and support manufacturing facilities, TSMC maintains offices in China, India, Japan, South Korea, the Netherlands, USA and Taiwan. TSMC has developed a large number of advanced technologies, manufacturing processes, design tools and standard architectures. For 2017, the company was the largest contract manufacturer of semiconductor microcircuits with a market share of over 50%.

TSMC’s main competitors are also semiconductor companies such as GlobalFoundries and United Microelectronics Corporation. But it should be noted that TSMC is the undisputed leader among competitors in terms of market share.


2020 Revenue: $ 45.5B (+ 25% YoY)

2020 Operating Profit: $ 19.3B (+ 52% YoY)

2020 net income: $ 17.6B (+ 50% yoy)

Earnings per share for the last quarter: $ 0.97, higher than the forecast of $ 0.94

Geographic distribution of revenue:

United States – 61.07%

China – 17.46%

Taiwan – 9.64%

Europe & Middle East & Africa (EMEA) – 5.24%

Japan – 4.73%

Other – 1.86%

As can be seen from the geographical distribution of revenue, the company’s products are in demand in many developed and developing countries. Despite the fact that the company is developing and growing rapidly, TSMC pleases investors with dividends. However, the forward dividend yield on the company’s shares remains small (about 1.5%).

Thus, TSMC is a company with a transparent and understandable operating business. The company’s management strives to keep up with the times and offer new contracts for the production of new products.

Despite the fact that the company is growing by leaps and bounds, it is the leader in the production of microchips, and also simply cannot cope with the number of orders that it currently has. It is nevertheless overheated and is already at the stage of correction. Acceptable purchase levels will be the $ 104 and $ 90 levels. Targets the previous high of 140 or even higher.

24 March 2021
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