Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 1.1%

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) traded up 1.1% during trading on Monday . The stock traded as high as $169.23 and last traded at $169.03. 6,079,656 shares were traded during trading, a decline of 62% from the average session volume of 16,200,952 shares. The stock had previously closed at $167.12.

Analysts Set New Price Targets

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

Taiwan Semiconductor Manufacturing Price Performance

The stock’s 50 day simple moving average is $170.71 and its 200-day simple moving average is $149.78. The firm has a market cap of $881.59 billion, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 0.98 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.39.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.11. Taiwan Semiconductor Manufacturing had a return on equity of 25.89% and a net margin of 37.85%. The firm had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.33 billion. During the same period in the prior year, the firm earned $1.14 EPS. The firm’s revenue was up 34.6% on a year-over-year basis. Equities research analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.44 EPS 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. Investors of record on Thursday, December 12th will be issued a dividend of $0.4871 per share. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 1.15%. Taiwan Semiconductor Manufacturing’s payout ratio is 32.57%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of TSM. Perigon Wealth Management LLC lifted its position in Taiwan Semiconductor Manufacturing by 5.1% during the fourth quarter. Perigon Wealth Management LLC now owns 3,793 shares of the semiconductor company’s stock valued at $394,000 after purchasing an additional 185 shares during the period. Tennessee Valley Asset Management Partners acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter valued at about $37,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Taiwan Semiconductor Manufacturing by 10.7% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 644,037 shares of the semiconductor company’s stock worth $66,980,000 after buying an additional 62,125 shares during the last quarter. Bison Wealth LLC acquired a new stake in Taiwan Semiconductor Manufacturing during the fourth quarter worth about $1,178,000. Finally, Mackenzie Financial Corp raised its position in Taiwan Semiconductor Manufacturing by 6.7% during the fourth quarter. Mackenzie Financial Corp now owns 91,559 shares of the semiconductor company’s stock valued at $9,522,000 after acquiring an additional 5,732 shares in the last quarter. 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.