Taiwan Semiconductor (NYSE:TSM) Raises EPS Estimates

Responding to Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) raising their EPS estimates, Susquehanna has raised their price target on them while maintaining a "Neutral" rating.

Here are the positives on the company noted by Susquehanna:

"1) positive business momentum has continued following the Black Friday weekend; (2) key customers such as BRCM with exposure to new/growth products (such as Tablets) are continuing to increase starts, thus helping to minimize downside to utilization/gross margin; and (3) dividend payout is expected to increase in CY11."

The wafer start projection for 4!10 has also risen 1 percent, and is up 4 percent since November.

Full year EPS estimates for 2010 were raised by TSM from $6.15 to $6.23, and for full year 2011 from $5.76 to $6.37.

TSM closed Tuesday at $11.91, up $0.01, or 0.08 percent. Susquehanna raised their price target on them from $10 to $11.