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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Semiconductor Manufacturing International Corporation    981   KYG8020E1199

SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION

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TSMC Q3 profit surges 36%, well ahead of market forecasts

10/15/2020 | 01:55am EST

(Corrects market forecast in first bullet point)

* Q3 profit T$137.3 bln vs T$124.9 bln market forecast

* Q3 revenue up 29% on year in U.S. dollar terms

TAIPEI, Oct 15 (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC) reported a 36% jump in quarterly net profit, boosted by robust demand for products requiring high-end chips and as Apple Inc readies a new iPhone.

July-September net profit for the world's largest contract chipmaker came in at T$137.3 billion ($4.8 billion), well ahead of the T$124.9 billion average of 19 analyst estimates compiled by Refinitiv.

TSMC's advanced chips are used in high-end smartphones such as Apple's newly unveiled 5G iPhone 12 as well as in telecommunications technology and artificial intelligence.

The chip sector has also been one of the rare industries benefiting from the coronavirus pandemic with more people investing in premium devices as they spend longer hours at home and as corporations seek to add more bandwidth for remote workers.

That has helped TSMC offset a loss of orders from Huawei after the U.S. imposed extensive restrictions on sales to the Chinese telecommunications giant.

A U.S. proposal to also put Semiconductor Manufacturing International Corp (SMIC) on the same trade blacklist has also caused some of the Chinese chipmaker's clients to preemptively switch over to its Taiwanese rival, analysts have said.

TSMC's revenue for the quarter climbed 29.2% to $12.1 billion, above the company's prior estimated range of $11.2 billion to $11.5 billion.

Shares of TSMC have jumped about 36% so far this year, giving it a market value of $414 billion. ($1 = 28.7260 Taiwan dollars) (Reporting by Yimou Lee; Editing by Edwina Gibbs)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 0.48% 116.59 Delayed Quote.58.05%
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION 0.68% 22.05 End-of-day quote.84.67%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 0.41% 489 End-of-day quote.47.73%
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Financials (USD)
Sales 2020 3 838 M - -
Net income 2020 520 M - -
Net cash 2020 2 298 M - -
P/E ratio 2020 40,7x
Yield 2020 -
Capitalization 22 105 M 22 105 M -
EV / Sales 2020 5,16x
EV / Sales 2021 5,03x
Nbr of Employees 15 904
Free-Float 82,6%
Chart SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
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Semiconductor Manufacturing International Corporation Technical Analysis Chart | 981 | KYG8020E1199 | MarketScreener
Technical analysis trends SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 2,60 $
Last Close Price 2,87 $
Spread / Highest target 34,8%
Spread / Average Target -9,42%
Spread / Lowest Target -38,9%
EPS Revisions
Managers
NameTitle
Hai Jun Zhao Co-Chief Executive Officer & Executive Director
Meng Song Liang Co-Chief Executive Officer & Executive Director
Zi Xue Zhou Chairman
Xin Zhang Senior Vice President-Operations & Engineering
Yong Gang Gao CFO, Executive Director & Executive Vic President