Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 0.8%

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shot up 0.8% on Tuesday . The stock traded as high as $169.20 and last traded at $169.01. 5,124,155 shares were traded during mid-day trading, a decline of 68% from the average session volume of 16,185,538 shares. The stock had previously closed at $167.63.

Wall Street Analyst Weigh In

TSM has been the topic of several research reports. Sanford C. Bernstein increased their price target on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. Needham & Company LLC raised their price target on shares of Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Susquehanna restated a “positive” rating and issued a $250.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Wednesday. Barclays increased their price objective on Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, June 5th. Finally, TD Cowen boosted their target price on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.00.

Taiwan Semiconductor Manufacturing Price Performance

The firm has a market capitalization of $881.59 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 0.98 and a beta of 1.14. The stock’s fifty day moving average price is $170.85 and its two-hundred day moving average price is $149.92. The company has a current ratio of 2.39, a quick ratio of 2.13 and a debt-to-equity ratio of 0.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.37 by $0.11. The firm had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.33 billion. Taiwan Semiconductor Manufacturing had a return on equity of 25.89% and a net margin of 37.85%. Taiwan Semiconductor Manufacturing’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. Equities research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.44 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a $0.4871 dividend. This represents a $1.95 dividend on an annualized basis and a yield of 1.15%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, December 12th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 32.57%.

Institutional Trading of Taiwan Semiconductor Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its position in shares of Taiwan Semiconductor Manufacturing by 3.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,647,985 shares of the semiconductor company’s stock valued at $634,838,000 after buying an additional 125,204 shares during the last quarter. Armistice Capital LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 7.1% during the second quarter. Armistice Capital LLC now owns 60,000 shares of the semiconductor company’s stock worth $10,429,000 after purchasing an additional 4,000 shares in the last quarter. Abich Financial Wealth Management LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 108.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 208 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 108 shares during the last quarter. Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter valued at about $7,051,000. Finally, Absoluto Partners Gestao de Recursos Ltda acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $2,529,000. Institutional investors and hedge funds own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Company Profile

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.