Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 4% – Time to Buy?

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)’s share price shot up 4% on Tuesday . The company traded as high as $218.80 and last traded at $218.78. 4,971,950 shares were traded during mid-day trading, a decline of 68% from the average session volume of 15,475,510 shares. The stock had previously closed at $210.32.

Wall Street Analysts Forecast Growth

TSM has been the topic of several research analyst reports. Susquehanna lifted their price objective on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a “positive” rating in a report on Tuesday, June 17th. Barclays reissued an “overweight” rating and issued a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Citigroup reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing currently has an average rating of “Moderate Buy” and a consensus price target of $222.50.

Taiwan Semiconductor Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.18 and a current ratio of 2.39. The stock’s 50-day moving average is $187.34 and its two-hundred day moving average is $189.45. The stock has a market cap of $1.14 trillion, a PE ratio of 28.21, a PEG ratio of 1.08 and a beta of 1.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. The company had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $834.10 billion. On average, equities analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently announced 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. This represents a $2.60 annualized dividend and a yield of 1.18%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 30.59%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Hedge funds have recently added to or reduced their stakes in the business. Heritage Wealth Advisors boosted its holdings in Taiwan Semiconductor Manufacturing by 20.0% in the fourth quarter. Heritage Wealth Advisors now owns 300 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 50 shares during the period. First Heartland Consultants Inc. boosted its stake in shares of Taiwan Semiconductor Manufacturing by 4.2% in the 4th quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company’s stock valued at $244,000 after buying an additional 50 shares during the period. Formidable Asset Management LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company’s stock worth $317,000 after buying an additional 50 shares in the last quarter. Connecticut Wealth Management LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 0.7% during the fourth quarter. Connecticut Wealth Management LLC now owns 7,416 shares of the semiconductor company’s stock worth $1,465,000 after buying an additional 55 shares during the period. Finally, Brown Shipley& Co Ltd raised its holdings in Taiwan Semiconductor Manufacturing by 1.4% in the first quarter. Brown Shipley& Co Ltd now owns 3,926 shares of the semiconductor company’s stock valued at $652,000 after acquiring an additional 55 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.