Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading 2.3% Higher – What’s Next?

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares rose 2.3% during trading on Tuesday . The stock traded as high as $212.83 and last traded at $211.78. Approximately 5,298,543 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 15,732,522 shares. The stock had previously closed at $207.00.

Wall Street Analyst Weigh In

TSM has been the subject of a number of recent analyst reports. Citigroup reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Needham & Company LLC reissued a “buy” rating and set a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, April 17th. Susquehanna reiterated a “positive” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, April 25th. Finally, Barclays restated an “overweight” rating and issued a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.00.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a 50-day moving average price of $175.00 and a 200-day moving average price of $187.97. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 30.07, a P/E/G ratio of 0.66 and a beta of 1.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. The firm had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $834.10 billion. As a group, equities research analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be given a $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a yield of 1.23%. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 30.46%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing by 4.6% in the 4th quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company’s stock valued at $11,562,498,000 after purchasing an additional 2,572,488 shares during the period. Sanders Capital LLC increased its position in Taiwan Semiconductor Manufacturing by 0.6% in the 4th quarter. Sanders Capital LLC now owns 41,877,457 shares of the semiconductor company’s stock worth $8,270,379,000 after purchasing an additional 231,310 shares during the last quarter. Capital World Investors raised its stake in shares of Taiwan Semiconductor Manufacturing by 0.8% during the 4th quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company’s stock worth $7,031,632,000 after purchasing an additional 294,316 shares in the last quarter. Capital International Investors lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 8.2% during the 4th quarter. Capital International Investors now owns 22,210,222 shares of the semiconductor company’s stock valued at $4,391,957,000 after buying an additional 1,683,256 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Taiwan Semiconductor Manufacturing by 6.0% in the 4th quarter. Van ECK Associates Corp now owns 19,392,159 shares of the semiconductor company’s stock valued at $3,829,757,000 after buying an additional 1,102,166 shares in the last quarter. 16.51% of the stock is currently owned by institutional investors and hedge funds.

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.