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

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock price shot up 0.8% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $157.50 and last traded at $152.94. 12,700,724 shares changed hands during trading, a decline of 20% from the average session volume of 15,865,895 shares. The stock had previously closed at $151.67.

The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.09. The company had revenue of $25.82 billion during the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.6855 per share. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. This represents a $2.74 annualized dividend and a yield of 1.81%. The ex-dividend date is Thursday, June 12th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is currently 30.68%.

Analyst Upgrades and Downgrades

TSM has been the subject of several recent research reports. StockNews.com cut Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Susquehanna lowered their price target on shares of Taiwan Semiconductor Manufacturing from $265.00 to $250.00 and set a “positive” rating on the stock in a report on Thursday. Barclays upped their price objective on shares of Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Taiwan Semiconductor Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.00.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

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

Taiwan Semiconductor Manufacturing Trading Up 0.1 %

The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $787.61 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 0.66 and a beta of 1.16. The company has a fifty day moving average price of $173.73 and a two-hundred day moving average price of $189.98.

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.