TSMC 2분기 주당 순이익 1.55달러 예상치 상회/ 투자액 감액(2022.07.15)

2022.07.15

분석: TSMC의 시장 전망치를 상회하는 2분기 실적과 3분기 전망치 발표로 

반도체 주식에 대한 시장의 우려를 감소 시킴.

 

TSMC는 시장에서 재고 조정이 있겠지만 2023년에도 성장할 것으로 전망.

또한 마이크론의 투자액 감소에 이어 SK하이닉스도 2023년 투자액을 25% 감액한다하고,

TSMC도 올해 투자액을 9%정도 감액한다고 함.

 

그 결과 7월15일 한국장에서는 삼성전자와 SK하이닉스가 2%-3%대 상승 중이다.

 

 

Memory Chipmaker SK Hynix Weighs Slashing Spending by a Quarter in 2023 (yahoo.com)

Bloomberg) -- SK Hynix Inc. is considering cutting its 2023 capital expenditure by about a quarter to 16 trillion won

($12.2 billion) in response to slower electronics demand than anticipated, people familiar with the matter said.

 

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TSMC, 올해 2Q 영업익만 11조원…"첨단공정 수요 덕분" (edaily.co.kr)

TSMC, 올해 2Q 영업익만 11조원…"첨단공정 수요 덕분"

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TSMC 2분기 매출은 181.6억달러, 주당 순이익은 1.55달러로 시장 예상치  176.8억달러와 1.44달러를 상회했다.

매출은 달러 기준으로 전년 동기대비 36% 증가, 순이익은 67% 증가했다.

(대만 달러 기준으로는 매출이 3722억대만달러에서 5341억대만달러로 43.5% 증가)

 

3분기 실적 전망치도 매출이 198억-206억달러로 중간값 202억달러는 시장전망치 186.6억달러를 상회.

 

TSMC는 2022년말과 2023년 상반기에 걸쳐 고객들의 재고 조정이 있겠으나,

그럼에도 2023년도 성장하는 한해가 될것으로 예상했다.

 

 

 

TSM Stock: Taiwan Semiconductor Tops Q2 Targets, Guides Higher| Investor's Business Daily (investors.com)

Taiwan Semiconductor Manufacturing (TSM), the world's largest contract chipmaker, on Thursday beat analyst estimates for the second quarter and gave a better-than-expected forecast for the current period. TSM stock rose on the news.

 

The chip foundry earned $1.55 per U.S. share on sales of $18.16 billion in the June quarter. Analysts polled by FactSet expected earnings of $1.44 a share on sales of $17.68 billion. On a year-over-year basis, Taiwan Semiconductor earnings increased 67% while sales advanced 36%.

 

SMC 2분기 매출은 181.6억달러, 주당 순이익은 1.55달러로 시장 예상치  176.8억달러와 1.44달러를 상회했다.

매출은 전년 동기대비 36% 증가, 순이익은 67% 증가했다.

 

The company, also known as TSMC, preannounced better-than-expected second-quarter revenue last Friday.

For the third quarter, Taiwan Semi predicted revenue of $19.8 billion to $20.6 billion. The midpoint of $20.2 billion is well above Wall Street's consensus estimate of $18.66 billion.

 

3분기 실적 전망치도 매출이 198억-206억달러로 중간값 202억달러는 시장전망치 186.6억달러를 상회.

TSM Stock Climbs After Report

On the stock market today, TSM stock increased 2.9% to close at 83.67.

Taiwan Semiconductor makes cutting-edge chips for top fabless semiconductor firms such as Apple (AAPL), AMD (AMD), Nvidia (NVDA) and Qualcomm (QCOM).

 

Our second-quarter business was supported by HPC (high-performance computing), IoT (Internet of Things) and automotive-related demand," Chief Financial Officer Wendell Huang said in a news release.

2분기 매출은 고성능 컴퓨팅, 사물인터넷과 자동차 반도체 부문에 의해 지짇되었다고 

재무담당 사장 웬델은 말했다.

 

He added, "Moving into third quarter 2022, we expect our business to be supported by continued demand for our industry-leading 5-nanometer and 7-nanometer technologies."

3분기 매출은  회사의 선도적인 5나노와 7나노공정의 꾸준한 수요로 지지받을 것이다.

 

Circuit widths on chips are measured in nanometers, which are one-billionth of a meter.

In the second quarter, shipments of 5-nanometer chips accounted for 21% of TSMC's total wafer revenue and 7-nanometer chips accounted for 30%. Advanced technologies, defined as 7-nanometer and smaller designs, accounted for 51% of its total wafer revenue.

2분기 매출의 21%는 5나노공정 매출이고, 30%는 7나노 공정 매출로 7나노이하 미세공정 매출이

51%에 달했다.

Inventory Correction Period Ahead

Despite the beat-and-raise report, TSMC gave some cautious commentary for late 2022 and early 2023.

이러한 실적에도 회사는 2022년말과 2021년초의 실적에 대해 우려를 표명했다.

 

TSMC predicted an inventory correction period for PC, smartphone and consumer electronics customers running from late 2022 through the first half of 2023. Those markets are seeing declining product sales.

TSMC는 PC,스마트폰과 소비자 가전부문에서 2022년말과 2023년 상반기에 걸쳐 재고 조정을 예상했다.

실제로 이들ㄹ 제품에 대한 수요가 감소하고 있다.

 

"On the call, management offered what we consider optimistic realism about the business," Needham analyst Charles Shi said in a note to clients. "While expecting four-plus quarters of inventory correction for the industry, management thinks 2023 will still be a growth year for TSMC."

Shi reiterated his buy rating on TSM stock.

 

Meanwhile, Cowen analyst Krish Sankar cut his price target on TSM stock to 100 from 115 and kept his market perform rating.

In a report, Sankar said commentary on the upcoming inventory adjustments at mobile and PC customers overshadowed TSMC's positive earnings report.

 

Taiwan Semiconductor Has So-So Composite Rating

According to IBD Stock Checkup, TSM stock ranks No. 12 out of 31 stocks in IBD's semiconductor manufacturing industry group. TSM stock has an IBD Composite Rating of 63 out of 99.

 

IBD's Composite Rating combines five separate proprietary ratings into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.

 

IBD's semiconductor manufacturing group ranks No. 153 out of 197 industry groups that IBD tracks. Semiconductor stocks have fallen on concerns that the chip cycle will soon turn negative.

 

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TSMC sees customers adjust inventory through 1H23 (digitimes.com)

 

TSMC expects to see customers adjust inventory likely through the first half of 2023, which, nevertheless, will still be another growth year for the pure-play foundry, according to company CEO CC Wei.

 

TSMC는  고객들의 재고 조정이 내년 상반기까지 지속되겠지만,

회사는 2023년에도  성장할 것이라고 하였다.

 

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TSMC sees resilient chip sales boosting Q3; electronics demand cooling (yahoo.com)

 

TSMC said its capital expenditures this year will skim the lower end of its previous guidance of $40 billion to $44 billion, with some expenses pushed to next year because of a delay in the delivery of some chip-making equipment.

 

TSMC는 일부 장비의 인도가 지연됨에 따라 투자액이 내년으로 연기됨에 따라

올해 장비 투자액을 기존 440억달러에서 400억 달러로 낮춘다고 하였다.

 

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"TSMC, 부진한 업황에도 실적 매력 돋보일 것" - 아시아경제 (asiae.co.kr)

"TSMC, 부진한 업황에도 실적 매력 돋보일 것"