Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 1.1% – Here’s Why

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) shares were up 1.1% during trading on Wednesday . The stock traded as high as $296.62 and last traded at $295.3160. Approximately 9,555,434 shares were traded during trading, a decline of 33% from the average daily volume of 14,310,573 shares. The stock had previously closed at $292.09.

Analysts Set New Price Targets

TSM has been the subject of several research reports. Itau BBA Securities started coverage on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, October 7th. They set an “outperform” rating for the company. Wall Street Zen lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Monday. Susquehanna upped their target price on shares of Taiwan Semiconductor Manufacturing from $300.00 to $400.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Finally, Barclays lifted their price objective on shares of Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $371.67.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a market cap of $1.53 trillion, a PE ratio of 30.29, a PEG ratio of 0.99 and a beta of 1.31. The stock has a 50 day simple moving average of $290.81 and a two-hundred day simple moving average of $251.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.69 and a quick ratio of 2.47.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, October 16th. The semiconductor company reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.33. The company had revenue of $32.36 billion for the quarter, compared to analyst estimates of $951.89 billion. Taiwan Semiconductor Manufacturing had a return on equity of 34.34% and a net margin of 43.72%.The firm’s revenue for the quarter was up 40.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.94 EPS. Equities analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Tuesday, March 17th will be paid a $0.9678 dividend. This represents a $3.87 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 17th. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 25.74%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 20.9% during the fourth quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company’s stock valued at $2,159,000 after buying an additional 1,892 shares during the period. Mutual of America Capital Management LLC acquired a new position in Taiwan Semiconductor Manufacturing in the 1st quarter valued at $6,344,000. Manchester Capital Management LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 25.4% during the 1st quarter. Manchester Capital Management LLC now owns 494 shares of the semiconductor company’s stock worth $82,000 after purchasing an additional 100 shares during the period. Blair William & Co. IL boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 2.6% during the first quarter. Blair William & Co. IL now owns 94,011 shares of the semiconductor company’s stock worth $15,606,000 after purchasing an additional 2,415 shares during the last quarter. Finally, ING Groep NV raised its stake in Taiwan Semiconductor Manufacturing by 1.4% during the first quarter. ING Groep NV now owns 18,878 shares of the semiconductor company’s stock worth $3,134,000 after purchasing an additional 261 shares during the period. 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.