Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 3.6%

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares shot up 3.6% during mid-day trading on Friday . The company traded as high as $173.29 and last traded at $172.46. 4,710,116 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 16,011,689 shares. The stock had previously closed at $166.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TSM shares. Needham & Company LLC raised their target price on shares of Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Sanford C. Bernstein increased their target price on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. Barclays raised their price target on Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. TD Cowen upped their price target on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Finally, Susquehanna restated a “positive” rating and set a $250.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Taiwan Semiconductor Manufacturing currently has an average rating of “Moderate Buy” and an average price target of $200.00.

Taiwan Semiconductor Manufacturing Stock Performance

The business’s 50-day moving average price is $171.40 and its 200-day moving average price is $152.07. The company has a current ratio of 2.47, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. The stock has a market cap of $888.02 billion, a PE ratio of 32.85, a P/E/G ratio of 1.02 and a beta of 1.14.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. Taiwan Semiconductor Manufacturing had a return on equity of 25.54% and a net margin of 37.85%. The company had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.33 billion. During the same quarter last year, the business posted $1.14 EPS. The firm’s quarterly revenue was up 34.6% on a year-over-year basis. As a group, equities research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a $0.4871 dividend. This represents a $1.95 annualized dividend and a yield of 1.14%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, December 12th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 36.95%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TSM. Johnson Financial Group Inc. acquired a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $25,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Taiwan Semiconductor Manufacturing in the second quarter valued at $25,000. LifeSteps Financial Inc. acquired a new position in Taiwan Semiconductor Manufacturing during the 1st quarter worth $27,000. Olistico Wealth LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the 2nd quarter worth about $27,000. Finally, Valley Wealth Managers Inc. acquired a new stake in Taiwan Semiconductor Manufacturing in the 2nd quarter valued at about $27,000. Institutional investors and hedge funds own 16.51% of the company’s stock.

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.