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MarketScreener Homepage  >  Equities  >  Taiwan Stock Exchange  >  Taiwan Semiconductor Manufacturing Company Limited    2330   TW0002330008

TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED

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Phoenix okays development deal with TSMC for $12 billion chip factory

11/18/2020 | 05:20pm EST

(Reuters) - City officials in Phoenix, Arizona on Wednesday unanimously voted to authorize a development agreement with chipmaker Taiwan Semiconductor Manufacturing Co that would provide $205 million in city funds for infrastructure such as roads and water improvements for a planned $12 billion semiconductor factory in the city.

TSMC is the world's biggest contract chipmaker and manufactures semiconductors for Apple Inc , Qualcomm Inc and a range of other technology companies. The company in May disclosed its intentions to build a 5-nanometer chip factory in Arizona, which would be its first advanced manufacturing facility in the United States. Earlier this month it approved an investment to set up a wholly owned subsidiary in the U.S. state with paid-in capital of $3.5 billion.

The Phoenix City Council voted to allow the city to enter the agreement by a vote of 9-0. Ahead of the vote, Phoenix Mayor Kate Gallego called the agreement "a great success across so many levels of government in helping Arizona become a leader in advanced manufacturing."

Under the agreement, TSMC will build a new factory and create 1,900 new full-time jobs to be phased in over a five-year period. Construction would start in early 2021, with factory production expected in 2024.

In return, the city will build three miles of streets for $61 million, spend $37 million on water infrastructure improvements and $107 million in wastewater improvements. The company will enter a formal deal with the city after selecting a site, which is expected before the end of the year.

Based in Hsinchu, Taiwan, TSMC has said it also hopes for U.S. federal subsidies to help cover the extra cost of building chips in the United States. Most of the world's advanced semiconductors are manufactured in Taiwan, including those used in U.S. military equipment, which has become a cause for concern as tensions increase between the United States and China.

American lawmakers in June proposed billions of dollars in subsides to help bolster advanced semiconductor manufacturing in the United States. Those funds could benefit both TSMC as well as U.S. firms such as Intel Corp and Micron Technology Inc.

(Reporting by Stephen Nellis in San Francisco; editing by Diane Craft and David Gregorio)

By Stephen Nellis


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -1.37% 127.14 Delayed Quote.-4.18%
INTEL CORPORATION -2.82% 57.58 Delayed Quote.15.58%
MICRON TECHNOLOGY, INC. -0.71% 80.72 Delayed Quote.7.37%
QUALCOMM INCORPORATED -2.34% 157.09 Delayed Quote.3.12%
TAIWAN SEMICONDUCTOR CO., LTD. -3.54% 57.2 End-of-day quote.-8.04%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 1.52% 601 End-of-day quote.13.40%
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Financials
Sales 2020 1 341 B 47 904 M 47 904 M
Net income 2020 512 B 18 308 M 18 308 M
Net cash 2020 393 B 14 045 M 14 045 M
P/E ratio 2020 30,4x
Yield 2020 1,78%
Capitalization 15 584 B 557 B 557 B
EV / Sales 2020 11,3x
EV / Sales 2021 9,95x
Nbr of Employees 48 752
Free-Float 93,6%
Chart TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED
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Taiwan Semiconductor Manufacturing Company Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 29
Average target price 718,11 TWD
Last Close Price 601,00 TWD
Spread / Highest target 43,9%
Spread / Average Target 19,5%
Spread / Lowest Target -29,3%
EPS Revisions
Managers and Directors
NameTitle
Che Chia Wei Vice Chairman & Chief Executive Officer
Te Yin Liu Chairman
J. K. Wang Senior Vice President-Operations
Li Mei Ho Senior Vice President-Europe & Asia Sales
Jen Chao Huang Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED13.40%556 796
NVIDIA CORPORATION-1.50%318 401
INTEL CORPORATION15.58%235 963
BROADCOM INC.1.83%181 333
QUALCOMM INCORPORATED3.12%177 669
TEXAS INSTRUMENTS3.08%155 307