TAIWAN SEMI-ADR (TSM)
 
Quote Price $14.02
Price change for today in $ 0.06
Price change for today in % 0.43
Open Price $13.93
Previous Close $13.96
Daily Range $13.90 - $14.05
52-Week Range $10.75 - $16.15
Volume 587,121
 
 
Brokerage Analyst Recommendations 
6 Brokerage Firms Covering TSM
 
   
Strong Buy
1 		Buy
1 		Hold
4		 Sell
0		 Strong Sell
0
Average Broker Recommendation (ABR):2.5 
 
Description
Taiwan Semiconductor Manufacturer Co is the world's largest dedicated integrated circuit foundry. As a foundry, the Company manufactures ICs for its customers based on their proprietary IC designs using its advanced production processes. TSMC's goal is to establish itself as one of the world's leading semiconductor companies by building upon the strengths thathave made it the leading IC foundry in the world.
 
NO. 8 LI-HSIN ROAD 6 SCIENCE-BASED INDUSTRIAL PARK
HSINCHU, F5
00000, CHN
Phone: 886-3-5636688
Fax: 886 3 563 7000
Web: http://www.tsmc.com/
Email: nvest@tsmc.com		 Industry:SEMI FAB FOUNDRIES
Sector: Computer and Technology
Fiscal Year End:December
Last Reported Quarter:03/31/12
Next EPS Date:07/26/12
 
Capital Structure Solvency and Cash Flow

Balance Sheet

Cash and marketable securities at the end of 1Q11 were NT$163.4 billion versus NT$181.6 billion in 4Q10 and NT$192.0 billion in 1Q10. Accounts receivable were NT$46.8 billion versus NT$43.0 billion in 4Q10 and NT$40.0 billion in 1Q10. Inventory was NT$31.8 billion versus NT$28.4 billion in 4Q10 and NT$22.7 billion in 1Q10. Days sales outstanding in the quarter were 39 days versus 38 days in 4Q10. Days of inventory outstanding increased to 56 days in 1Q11 from 50 days in 4Q10.

Cash Flow and Capital Expenditure

Cash generated from operating activities totaled NT$56.48 billion in 1Q11 versus NT$70.56 billion in 4Q10 and NT$46.03 billion in 1Q10. Capital expenditure was NT$81.26 billion in 1Q11 versus NT$45.94 billion in 4Q10 and NT$46.14 billion in 1Q10. Free cash flow was negative NT$24.78 billion in 1Q11.

Dividend

On June 9, 2011, the company’s Board of Directors proposed the distribution of NT$3.0 cash dividend per common share.


Last edited Fri Jun 10, 2011 09:24 AM
by SudiptaMukherjee (Zacks Investment Research)		make a comment about Capital Structure Solvency and Cash Flow
 
Governance Social Responsibility and Employee Relations
No comments yet. Be the first
make a comment about Governance Social Responsibility and Employee Relations
 
Acquisitions Divestitures and Joint Ventures
No comments yet. Be the first
make a comment about Acquisitions Divestitures and Joint Ventures
 
Recent and Upcoming Events

 
Major Risks

• TSM is subject to the volatile semiconductor cycle risk.
• The foundry industry is highly competitive.
• The company faces stiff competition from the Chinese semiconductor market.
• Emerging IDM foundries (IBM, Samsung, and Toshiba) confirmed plans to expand their foundry service businesses.
• The company is exposed to customer concentration risk with the top 10 customers providing the bulk of its revenue.
• The company has a history of paying stock options to employees, which can dilute its earnings.
• The company is highly dependent on Philips and Taiwan’s development fund.
• Earthquakes pose a constant threat to the island of Taiwan.
 


Last edited Fri Jun 10, 2011 09:24 AM
by SudiptaMukherjee (Zacks Investment Research)		make a comment about Major Risks
 


Created by: WikiMigrationBot. Last Modification: Thursday 03 of June, 2010 09:02:38 CDT by WikiMigrationBot.