In the latest trading session, TSMC (TSM - Free Report) closed at $58.10, marking a +0.43% move from the previous day. This change outpaced the S&P 500's 0.3% gain on the day. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq added 0.3%.
Prior to today's trading, shares of the chip company had gained 9.19% over the past month. This has outpaced the Computer and Technology sector's gain of 3.51% and the S&P 500's gain of 2.69% in that time.
Wall Street will be looking for positivity from TSM as it approaches its next earnings report date.
Investors should also note any recent changes to analyst estimates for TSM. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. TSM is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note TSM's current valuation metrics, including its Forward P/E ratio of 27.03. For comparison, its industry has an average Forward P/E of 27.03, which means TSM is trading at a no noticeable deviation to the group.
Meanwhile, TSM's PEG ratio is currently 2.6. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. TSM's industry had an average PEG ratio of 2.6 as of yesterday's close.
The Semiconductor - Circuit Foundry industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 99, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.