TSM - Taiwan Semiconductor Manufacturing Company Limited

NYSE - NYSE Delayed Price. Currency in USD
44.90
+0.18 (+0.41%)
At close: 4:02PM EDT
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Previous Close44.72
Open44.80
Bid44.60 x 1300
Ask46.70 x 2200
Day's Range44.76 - 45.22
52 Week Range34.21 - 45.64
Volume6,380,237
Avg. Volume6,439,465
Market Cap223.028B
Beta (3Y Monthly)1.00
PE Ratio (TTM)20.13
EPS (TTM)2.23
Earnings DateN/A
Forward Dividend & Yield1.60 (3.54%)
Ex-Dividend Date2019-09-19
1y Target Est48.96
Trade prices are not sourced from all markets
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    (Bloomberg) -- Samsung Electronics Co. and Huawei Technologies Co. took turns announcing new mobile processors at the IFA technology show in Berlin last week, and the big thing the new chips have in common is an integrated 5G modem.In a market dominated by U.S. rival Qualcomm Inc., the world’s two biggest smartphone manufacturers asserted a lead in delivering one of the keys to unlocking widespread availability of 5G devices. A system-on-chip that integrates the applications processor and a fifth-generation wireless modem significantly reduces the space and power requirements compared to existing solutions that use two separate chips.Qualcomm has such models on its 2020 road map, but this past week Samsung announced it’s planning mass production for its alternative at the end of 2019 and Huawei is moving even faster, promising to release its most advanced processor with the Mate 30 Pro smartphone on Sept. 19.The Kirin 990 5G from Huawei subsidiary HiSilicon is built at Taiwan Semiconductor Manufacturing Co. and packs more than 10.3 billion transistors into a space the size of a fingernail. It includes a graphics processor, an octa-core CPU, and the all-important 5G modem, along with dedicated neural processing units for accelerating artificial intelligence tasks.At Huawei’s Berlin launch event, consumer group Chief Executive Officer Richard Yu showed the high-end 990 5G achieving real-world download speeds on China Mobile’s network in excess of 1.7Gbps. That’s fast enough to download high-definition movies and demanding 3-D games in a matter of seconds.Samsung’s approach with its Exynos 980 is to target the mid-range. Along with 5G capabilities, this new chip integrates 802.11ax fast Wi-Fi along with Samsung’s own NPU. It won’t run apps and games quite as quickly as flagship chips, but should help the South Korean company garner a slice of the more mainstream market before Qualcomm brings out an armada of new 5G-capable chips next year.Samsung’s emphasis on this part of the mobile market was also signaled by its launch of the Galaxy A90 this month, one of the earliest examples of a mid-range device with 5G.Huawei’s Next Flagship Phone Set to Sink Without Google Apps (1)For its part, Qualcomm is promising to cover the entire range of price points and mobile device types with its 5G portfolio in 2020, however the world’s premier mobile chip designer is finding itself behind its faster-moving rivals.While Huawei is “pushing to show tech leadership,” the company has “made sacrifices in order to make an integrated SOC,” said Anshel Sag, mobile industry analyst at Moor Insights & Strategy. He cited the chip’s lack of support for mmWave -- the high-frequency 5G favored by U.S. carriers AT&T Inc. and Verizon Communications Inc. plus some European ones -- as an example. The Kirin 990 5G is fast by today’s standards and a great upgrade for Huawei’s upcoming devices in China, but Sag said it’ll find itself outpaced by rivals in 2020.The silver lining to the trade war for Qualcomm, however, is that Huawei’s Mate 30 Pro will struggle to sell in Europe so long as the Trump administration prevents it from offering Google services on new phones. Irrespective of how fast and advanced its Kirin 990 5G may be, the trade war will prevent Huawei from fully capitalizing on its capabilities and may, in fact, push the company to license the chip out to other smartphone vendors, such as Lenovo Group, which is not subject to the same sanctions.If the U.S. keeps Huawei on its blacklist, preventing it from buying American technology, the company faces further chip challenges. To develop successors to the Kirin 990, it needs to license the latest designs from SoftBank Group’s ARM, but that company discontinued work with Huawei because of the U.S. ban.(Updates with analyst comment in the third from last paragraph.)To contact the reporter on this story: Vlad Savov in Tokyo at vsavov5@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Nate Lanxon, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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  • Bloomberg

    Tiny Japan Firm Helps to Crack Code for Next-Gen Computer Chips

    (Bloomberg) -- Chipmakers have spent two decades pouring investment into a revolutionary new technique to push the limits of physics and cram more transistors onto slices of silicon. Now that technology is on the cusp of going mainstream, thanks to a secretive Japanese company that’s mastered the skill of manipulating light for applications from squid fishing to cinema projection.Ushio Inc. announced July it had cleared a key milestone, perfecting the powerful, ultra-precise lights needed to test chip designs based on extreme ultraviolet lithography or EUV, the process through which the next generation of semiconductors will be made. With that, the Japanese company became a major player in future chipmaking.“The infrastructure is now mostly ready,” Chief Executive Officer Koji Naito said in an interview. “Testing equipment was one of the things holding back EUV. With that piece in place, production efficiency and yields can go up.”Read more: How an Obscure Rubber Company Became a Linchpin of Tech IndustryUshio’s advances cement its position among a coterie of little-known Japanese companies indispensable to the production of the world’s consumer electronics. The Tokyo-based company developed a light source for equipment used to test what are known as masks: glass squares slightly bigger than a CD case that act as a stencil for chip designs. These templates have to be absolutely perfect, as even a tiny defect in one of them can render every chip in a large batch unusable.That’s where Ushio comes in. Its technology uses lasers to vaporize liquid tin into plasma and produce light closer in wavelength to X-rays than the spectrum visible to the human eye. That light helps chipmakers spot potential defects in the product. This process takes a room-sized machine that looks like a sci-fi death ray and requires a team of people to operate. After 15 years in development, the EUV business will start contributing to profit from the next fiscal year, Naito said, without giving further details.The move to EUV is the culmination of a decades-old trend. The push for smaller geometries that started when integrated circuits replaced vacuum tubes in the 1970s is approaching its final stages, and the number of companies that can compete in that space has been whittled down to a handful. Only Intel Corp., Samsung Electronics Co. and Taiwan Semiconductor Manufacturing Co. have plans to use EUV to go smaller than the 7-nanometer processes that are the current cutting edge of CPU design. All three will use lithography machines from ASML Holding NV, and for a few specialist suppliers like Ushio, that means a chance to have a 100% share of their respective markets.“We don’t chase the mass market, even though there is potentially a ton of money to be made in home lighting or automotive,” Naito said. “Instead, we want to focus on niche areas and do things that others can’t.”Naito believes Ushio is positioned to control the market for light sources used in testing of patterned EUV masks, while a small group of fellow Japanese companies specialize in other aspects of the technology. JSR Corp. and Tokyo Ohka Kogyo Co., for instance, control production of the light-sensitive resins required to print the designs, while the blank masks are made by only two companies, AGC Inc. and Hoya Corp., which both use Lasertec Corp.’s machines to test for flaws. All are based in the greater Tokyo area and espouse an almost artisanal commitment to high-precision manufacturing.Why Japan and South Korea Have Their Own Trade War: QuickTakeThe fact that much of the EUV supply chain hails from a single country was seized upon by Japan in its trade spat with South Korea. Tokyo slapped export restrictions on key materials heading to Korea, giving undesired attention to companies that prefer to operate behind the scenes. While Ushio’s machines were not targeted, photo-resists made by JSR and Tokyo Ohka made the sanctions list. The government has since relented, but concern lingers that the industry’s delicate balance may be again disrupted in the future.“There hasn’t been a direct impact for us yet,” Naito said. “But because we have such a high market share for our products, we feel a responsibility to absolutely make sure our customers’ production lines do not stop.”Alongside its EUV ambitions, Ushio commands an 80% share of the market for lithography lamps used to make liquid crystal displays and controls 95% of the supply of excimer lamps used in silicon wafer cleaning. The key to its success is balancing mass production with craftsmanship. Materials like quartz glass are difficult to handle and have different thermal expansion properties from metals like the molybdenum in which they are housed. Some of the lamps still have to be finished by hand.“Wherever you have a manufacturing process that needs to shine a very bright light, you will find Ushio,” said Damian Thong, an analyst at Macquarie Group Ltd.Ushio’s expertise also extends beyond semiconductors. Founded in 1964, it was the first Japanese company to develop and produce halogen lamps. From 1973, fishermen began to use its lights to catch squid -- -- a controversial technique in many countries. Finding new uses for its technology, from tanning salons to movie projectors, helped Ushio more than triple its sales over the past 25 years. The company is now experimenting with the use of sodium lamps to nurture plants and using ultraviolet light calibrated to such a precise wavelength as to kill bacteria without damaging human skin.“For Japanese firms with strong legacy manufacturing technology, the bigger danger is being trapped in them,” Thong said. “You have to give Ushio credit for moving further downstream, away from manufacturing toward something that requires more system integration.”To contact the reporters on this story: Pavel Alpeyev in Tokyo at palpeyev@bloomberg.net;Yuki Furukawa in Tokyo at yfurukawa13@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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    UPDATE 1-GlobalFoundries sues TSMC, wants US import ban on some products

    Contract chipmaker GlobalFoundries sued larger rival and Apple supplier TSMC for patent infringement, seeking to stop imports into the United States and Germany of products made with the allegedly infringed technologies. In lawsuits filed on Monday in the United States and Germany, GlobalFoundries also sought unspecified "significant" damages from Taiwan Semiconductor Manufacturing Co (TSMC) based on the Taiwanese firm's unlawful use of its technology in its "tens of billions of dollars of sales".

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    Contract chipmaker GlobalFoundries sued larger rival and Apple supplier TSMC for patent infringement, seeking to stop imports into the United States and Germany of products made with the allegedly infringed technologies. In lawsuits filed on Monday in the United States and Germany, GlobalFoundries also sought unspecified "significant" damages from Taiwan Semiconductor Manufacturing Co (TSMC) based on the Taiwanese firm's unlawful use of its technology in its "tens of billions of dollars of sales".

  • Globalfoundries Sues TSMC; Seeks Import Ban on IPhone Parts
    Bloomberg

    Globalfoundries Sues TSMC; Seeks Import Ban on IPhone Parts

    (Bloomberg) -- Globalfoundries Inc. sued larger rival Taiwan Semiconductor Manufacturing Co. for using its patented chip technology and requested a U.S. trade agency impose import bans that could roil the market for crucial components of a huge swath of electronics, including the iPhone.The U.S.-headquartered chipmaker, which like TSMC manufactures semiconductors for other companies, on Monday filed patent-infringement complaints at the U.S. International Trade Commission in Washington, as well as civil lawsuits at federal courts in the U.S. and Germany.The complaints cite TSMC and customers including Apple Inc., Broadcom Inc., Qualcomm Inc., Xilinx Inc., Nvidia Corp. and their device-maker customers including Cisco Systems Inc., Google and Lenovo Group Ltd. TSMC makes chips designed by companies like Qualcomm and Nvidia that are then used in devices including Apple iPhones, Lenovo laptops and Cisco routers.The broad-ranging legal assault threatens to disrupt the supply of everything from smartphones to personal computers to vital infrastructure like switches and routers that are the backbone of the internet. It highlights the importance of TSMC as a maker of the components that keep modern electronics running. It also comes at a time when the worldwide supply chain is being disrupted by a trade dispute between China and the U.S.TSMC spokeswoman Elizabeth Sun said her company hasn’t been served with any court papers and it isn’t familiar with the details of the suit."TSMC has always respected intellectual property and we have developed all our technologies by ourselves," Sun said.Globalfoundries is positioning the case as U.S. and European inventions being illegally used by an Asian company that has an increasing stranglehold on crucial parts of the technology industry.“Someone had to do something, the world needs a competitive semiconductor industry,” said Sam Azar, senior vice president of corporate development at Globalfoundries. “We’re using courts in the U.S. and Europe that care about protecting manufacturing.”Globalfoundries has factories in upstate New York and Dresden, Germany. Its headquarters is in Silicon Valley. The closely held company is owned by Mubadala, the investment arm of the government of Abu Dhabi.Globalfoundries, like other so-called contract chipmakers, has struggled to keep pace with TSMC whose factories are now rated the best in the industry. The U.S.-based company is seeking "substantial" damages from its Taiwanese rival which it alleges is using Globalfoundries’ technology to help it win tens of billions of dollars of sales, it said in a statement.German courts work quickly, and are known for ordering a halt of imports of products even before litigation is completed to protect patent owners. The ITC in Washington, which protects U.S. markets from unfair trade practices, also has a reputation for speed, with investigations completed in 15 to 18 months. It has the ability to block products entering the world’s largest economy. It has occasionally opted not to do that if it decides a ban would be counter to the public’s best interest. The American civil suits, filed in federal courts in Delaware and Texas, would take longer but could result in large damage awards.Throughout the complaint, Globalfoundries cited products including iPhones, AirPods, Apple TV and iPad models. It also mentioned Cisco’s switch boxes as using infringing chips and Lenovo computers that are based on Nvidia graphics chips.Globalfoundries argued that a ban would not hurt consumers because Samsung Electronics Co. is a licensee and other companies such as Sony Corp., LG Electronics Inc. and Vizio Inc. are not included in the litigation. That means there will be an adequate supply of smartphones and other consumer electronics, it said in the court filings. Samsung and Globalfoundries had a chipmaking technology partnership.The patents Globalfoundries is asserting cover the fundamentals of how semiconductors are manufactured. Some are U.S. patents and others are European covering esoteric but important areas like “structures of and methods and tools for forming in-situ metallic/dialectric caps for interconnects.” They involve the most advanced technique, called 7 nanometer, that TSMC is currently using.Meanwhile, GlobalFoundries announced a year ago that it would halt development of 7-nanometer chips and focus on more mature technology as the company struggles to match TSMC’s annual capital expenditure of some $11 billion.Globalfoundries’ Azar said his company wants TSMC to stop using the patented technology, which will be difficult to work around, or ask for a license and pay for the right to continue using the inventions.Companies like Apple, Cisco and Nvidia are named in the complaints because TSMC doesn’t import the chips or sell them to consumers; the only way to stop the chips from entering the U.S. and Germany is to block the products that use them.Trump Aides Say He Has Power to Force Companies From China (2)Global Foundries filed the complaint after U.S. President Donald Trump issued a tweet on Aug. 23 saying American companies “are hereby ordered to immediately start looking for an alternative to China.” His administration claims he has the authority to impose such an order though trade experts disagree.(Updates with Samsung and other companies not included in the litigation in 13th paragraph.)\--With assistance from Debby Wu.To contact the reporters on this story: Ian King in San Francisco at ianking@bloomberg.net;Susan Decker in Washington at sdecker1@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Alistair Barr, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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    Aug.27 -- U.S. chip maker Globalfoundries is suing rival Taiwan Semiconductor for alleged patent infringement. It’s seeking an import ban that has the potential to disrupt the supply chain for everything from smart phones to PCs. Bloomberg’s Vlad Savov reports on “Bloomberg Markets: Asia.”