Taiwan Semiconductor Manufacturing (NYSE:TSM) shares snapped six straight sessions of gains, as the stock was down 0.8% at $258.26 on Thursday.
The semiconductor giant added 12.6% in the preceding six sessions. The stock has gained ~32% so far this year, compared to an 11% rise in the broader S&P 500 Index (SP500).
TSM is up 6% over the past one month.
Last week, the U.S. government informed TSM it intends to take away the company’s authorization to freely ship chipmaking components to its Nanjing facility in China.
The company reported a nearly 34% Y/Y jump in August revenue.
“Geopolitical tensions may cause temporary operational delays, but these are short-lived and present buying opportunities rather than long-term risks,” pointed out a recent Seeking Alpha analysis.
Looking at Seeking Alpha’s Quant Rating, TSM has a Strong Buy with a score of 4.9 out of 5. The company received A+ in the prospect of profitability, B+ in momentum, while it got C- valuation.
Turning to the Wall Street community, 15 analysts gave TSM a Buy and above rating. One analyst gave the stock a Hold recommendation, while none recommended Sell.
Seeking Alpha analysts are positive and see the stock as a Buy.