Taiwan Semiconductor Stock Pops on Possible Japan Plans

The company is considering building advanced packaging capacity in Japan

Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) is considering building advanced packaging capacity in Japan, which could boost the country’s semiconductor industry. The security is up 2.7% at $140.28 at last check, climbing back towards its March 8, all-time high of $158.40, with support from the 20-day moving average. TSM is already up more than 34% in 2024.

The brokerage bunch leans bullish, with eight of nine analysts in coverage calling Taiwan Semiconductor stock a “buy” or better. Bull notes could still be on the horizon, though, as the equity’s 12-month consensus price target of $133.14 is still a 5.5% discount to current trading levels.

That optimism is echoed in the options pits, where TSM’s 50-day call/put volume ratio of 3.28 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands higher than all readings from the last 12 months. This means calls have been much more popular than usual.

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