Susquehanna Maintains a Buy on Taiwan Semiconductor Manufacturing (TSM)

Core Insights - Taiwan Semiconductor Manufacturing Company Limited (TSMC) reported a 31.4% year-over-year increase in revenue for September 2025, reaching approximately NT$330.98 billion, although it experienced a 1.4% decline from August 2025 [1] - Analyst Mehdi Hosseini from Susquehanna reiterated a Buy rating on TSMC and raised the price target from $300 to $400, anticipating the company will exceed expectations for the fiscal third quarter of 2025 [2] Financial Performance - TSMC's September 2025 revenue was approximately NT$330.98 billion, marking a 31.4% increase year-over-year [1] - The revenue for September 2025 decreased by 1.4% compared to August 2025 [1] Analyst Ratings and Expectations - Mehdi Hosseini maintained a Buy rating on TSMC and increased the price target to $400 [2] - Expectations are set for TSMC to outperform consensus estimates for the fiscal third quarter of 2025, with results scheduled for release on October 16 [2] - There is an anticipation that TSMC will raise its guidance and exceed consensus for fiscal quarters FQ4 and FQ1 2026, driven by seasonal trends [2] Company Overview - TSMC is a technology company specializing in integrated circuit manufacturing services, including advanced process technologies and packaging solutions [3]