Taiwan Semiconductor Manufacturing (NYSE:TSM) Releases Earnings Results, Beats Expectations By $0.11 EPS

Taiwan Semiconductor Manufacturing (NYSE:TSM) posted its quarterly earnings results on Thursday. The semiconductor company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11, Briefing.com reports. Taiwan Semiconductor Manufacturing had a return on equity of 24.75% and a net margin of 38.15%. The business had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.33 billion. During the same quarter last year, the company posted $1.14 earnings per share. Taiwan Semiconductor Manufacturing’s quarterly revenue was up 34.6% on a year-over-year basis. Taiwan Semiconductor Manufacturing updated its Q3 2024 guidance to EPS.

Taiwan Semiconductor Manufacturing Trading Down 1.5 %

Shares of Taiwan Semiconductor Manufacturing stock traded down $2.64 during trading on Friday, hitting $169.23. The company’s stock had a trading volume of 2,489,419 shares, compared to its average volume of 15,609,722. The stock has a market cap of $877.70 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 1.10 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.39 and a quick ratio of 2.13. Taiwan Semiconductor Manufacturing has a 52 week low of $84.01 and a 52 week high of $193.47. The stock has a 50-day moving average price of $168.06 and a two-hundred day moving average price of $142.26.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.4865 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.95 annualized dividend and a dividend yield of 1.15%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 36.95%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Susquehanna increased their target price on shares of Taiwan Semiconductor Manufacturing from $200.00 to $250.00 and gave the stock a “positive” rating in a research report on Thursday, July 11th. Needham & Company LLC lifted their price objective on Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the company a “buy” rating in a report on Monday. Sanford C. Bernstein upped their target price on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. TD Cowen raised their price target on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, StockNews.com raised shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.00.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, manufactures, packages, tests, and sells integrated circuits and other semiconductor devices in Taiwan, China, Europe, the Middle East, Africa, Japan, the United States, and internationally. It provides a range of wafer fabrication processes, including processes to manufacture complementary metal- oxide-semiconductor (CMOS) logic, mixed-signal, radio frequency, embedded memory, bipolar CMOS mixed-signal, and others.