Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 3.3% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was up 3.3% on Monday . The company traded as high as $181.97 and last traded at $182.59. Approximately 4,076,849 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 15,012,566 shares. The stock had previously closed at $176.73.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays increased their price target on Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and set a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, February 18th. Finally, StockNews.com cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing currently has a consensus rating of “Moderate Buy” and an average price target of $220.00.

Taiwan Semiconductor Manufacturing Price Performance

The business’s 50-day moving average price is $194.86 and its 200 day moving average price is $192.62. The company has a market capitalization of $938.33 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 0.66 and a beta of 1.13. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings results on Thursday, January 16th. The semiconductor company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. Analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.6855 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $2.74 annualized dividend and a yield of 1.52%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. Taiwan Semiconductor Manufacturing’s payout ratio is 30.68%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several institutional investors have recently modified their holdings of TSM. Stonebridge Financial Group LLC purchased a new stake in Taiwan Semiconductor Manufacturing in the fourth quarter worth approximately $25,000. IMG Wealth Management Inc. purchased a new position in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth approximately $26,000. Hopwood Financial Services Inc. bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $27,000. Roxbury Financial LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the 4th quarter valued at $29,000. Finally, Accredited Wealth Management LLC bought a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at $31,000. 16.51% of the stock is currently owned by institutional investors.

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.