Taiwan Semiconductor Manufacturing (NYSE:TSM) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) from a hold rating to a buy rating in a research note released on Sunday morning.

Several other brokerages have also recently issued reports on TSM. Needham & Company LLC reissued a “buy” rating and issued a $360.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Monday, October 27th. Sanford C. Bernstein upped their target price on shares of Taiwan Semiconductor Manufacturing from $290.00 to $330.00 and gave the company an “outperform” rating in a report on Sunday, December 7th. Itau BBA Securities assumed coverage on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, October 7th. They issued an “outperform” rating on the stock. UBS Group set a $330.00 price objective on Taiwan Semiconductor Manufacturing in a research note on Sunday, December 7th. Finally, Susquehanna lifted their target price on Taiwan Semiconductor Manufacturing from $300.00 to $400.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, Taiwan Semiconductor Manufacturing currently has a consensus rating of “Buy” and an average price target of $355.00.

Taiwan Semiconductor Manufacturing Trading Down 4.3%

Shares of TSM stock opened at $291.87 on Friday. The company has a current ratio of 2.69, a quick ratio of 2.47 and a debt-to-equity ratio of 0.19. Taiwan Semiconductor Manufacturing has a 12-month low of $134.25 and a 12-month high of $313.98. The stock has a market capitalization of $1.51 trillion, a P/E ratio of 29.94, a P/E/G ratio of 1.00 and a beta of 1.31. The firm’s 50 day moving average is $293.64 and its 200 day moving average is $257.18.

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

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Tuesday, March 17th will be issued a $0.9678 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $3.87 annualized dividend and a yield of 1.3%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. Taiwan Semiconductor Manufacturing’s payout ratio is currently 25.85%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors and hedge funds have recently bought and sold shares of the business. 1248 Management LLC purchased a new position in Taiwan Semiconductor Manufacturing in the 1st quarter worth approximately $28,000. Heartwood Wealth Advisors LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the 3rd quarter valued at approximately $32,000. Resources Management Corp CT ADV bought a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter valued at approximately $32,000. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Taiwan Semiconductor Manufacturing in the second quarter worth $33,000. Finally, First Command Advisory Services Inc. lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 174.1% in the second quarter. First Command Advisory Services Inc. now owns 159 shares of the semiconductor company’s stock worth $36,000 after buying an additional 101 shares in the last quarter. 16.51% of the stock is owned by institutional investors.

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.