Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 1.4% on Analyst Upgrade

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSMGet Free Report) rose 1.4% on Wednesday after Barclays raised their price target on the stock from $125.00 to $145.00. Barclays currently has an overweight rating on the stock. Taiwan Semiconductor Manufacturing traded as high as $142.93 and last traded at $142.16. Approximately 4,635,449 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 15,399,813 shares. The stock had previously closed at $140.22.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC increased their price objective on shares of Taiwan Semiconductor Manufacturing from $115.00 to $133.00 and gave the stock a “buy” rating in a report on Friday, January 19th. StockNews.com raised shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Friday, December 8th. Susquehanna raised their target price on shares of Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Tuesday. Finally, TD Cowen raised their target price on shares of Taiwan Semiconductor Manufacturing from $85.00 to $95.00 and gave the company a “market perform” rating in a research note on Friday, January 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.25.

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Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Timber Creek Capital Management LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 1.5% during the first quarter. Timber Creek Capital Management LLC now owns 58,056 shares of the semiconductor company’s stock worth $7,899,000 after purchasing an additional 837 shares during the period. Symmetry Partners LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 51.9% during the first quarter. Symmetry Partners LLC now owns 28,036 shares of the semiconductor company’s stock worth $3,814,000 after purchasing an additional 9,585 shares during the period. Confluence Investment Management LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter worth approximately $1,436,000. General Partner Inc. boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 5.6% during the first quarter. General Partner Inc. now owns 6,433 shares of the semiconductor company’s stock worth $875,000 after purchasing an additional 343 shares during the period. Finally, Adirondack Trust Co. boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 94.5% during the fourth quarter. Adirondack Trust Co. now owns 352 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 171 shares during the period. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.40 and a quick ratio of 2.13. The firm has a market capitalization of $737.46 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.08 and a beta of 1.15. The firm’s fifty day moving average is $131.08 and its 200 day moving average is $108.46.

Taiwan Semiconductor Manufacturing (NYSE:TSMGet Free Report) last posted its earnings results on Thursday, January 18th. The semiconductor company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.37 by $0.07. The company had revenue of $19.62 billion during the quarter, compared to the consensus estimate of $18.99 billion. Taiwan Semiconductor Manufacturing had a net margin of 38.80% and a return on equity of 25.24%. On average, analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.16 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Thursday, June 13th will be issued a dividend of $0.4408 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, June 13th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 33.78%.

Taiwan Semiconductor Manufacturing Company Profile

(Get Free Report)

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 complementary metal oxide silicon wafer fabrication processes to manufacture logic, mixed-signal, radio frequency, and embedded memory semiconductors.

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