Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 5.3% – Still a Buy?

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)’s stock price rose 5.3% during trading on Monday . The company traded as high as $456.10 and last traded at $455.2620. Approximately 14,811,869 shares were traded during mid-day trading, an increase of 7% from the average daily volume of 13,892,756 shares. The stock had previously closed at $432.35.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSM. Susquehanna raised their price target on Taiwan Semiconductor Manufacturing from $500.00 to $575.00 and gave the stock a “positive” rating in a research note on Monday, June 22nd. Wall Street Zen upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Sunday, March 22nd. DA Davidson reaffirmed a “buy” rating and set a $450.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, April 17th. Needham & Company LLC lifted their price target on shares of Taiwan Semiconductor Manufacturing from $410.00 to $480.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, Zacks Research downgraded Taiwan Semiconductor Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Taiwan Semiconductor Manufacturing currently has an average rating of “Buy” and a consensus target price of $449.38.

Taiwan Semiconductor Manufacturing Price Performance

The company has a 50-day moving average price of $413.95 and a two-hundred day moving average price of $363.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.49 and a quick ratio of 2.31. The company has a market cap of $2.36 trillion, a PE ratio of 37.88, a P/E/G ratio of 1.09 and a beta of 1.39.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Tuesday, February 10th. The semiconductor company reported $3.11 EPS for the quarter. The business had revenue of $30.65 billion for the quarter. Taiwan Semiconductor Manufacturing had a return on equity of 36.81% and a net margin of 46.97%. Sell-side analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 15.35 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 16th will be issued a dividend of $1.1136 per share. This represents a $4.45 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 16th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.95. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 29.20%.

Insiders Place Their Bets

In other Taiwan Semiconductor Manufacturing news, VP Bor-Zen Tien acquired 2,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $69.91 per share, for a total transaction of $139,820.00. Following the purchase, the vice president directly owned 11,051 shares in the company, valued at $772,575.41. This trade represents a 22.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Tzu-Sou Chuang sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $69.83, for a total transaction of $13,966,000.00. Following the sale, the vice president directly owned 2,495,165 shares of the company’s stock, valued at $174,237,371.95. The trade was a 7.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have bought 4,496 shares of company stock worth $327,927 in the last quarter. 1.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors have recently modified their holdings of the stock. Brighton Jones LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 20.9% during the 4th quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company’s stock valued at $2,159,000 after acquiring an additional 1,892 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter worth $701,000. Bank of Nova Scotia lifted its position in shares of Taiwan Semiconductor Manufacturing by 12.8% in the 2nd quarter. Bank of Nova Scotia now owns 15,697 shares of the semiconductor company’s stock worth $3,556,000 after buying an additional 1,784 shares during the last quarter. FWL Investment Management LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 26.5% during the 2nd quarter. FWL Investment Management LLC now owns 253 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 53 shares during the last quarter. Finally, Main Street Financial Solutions LLC acquired a new stake in Taiwan Semiconductor Manufacturing during the second quarter worth about $270,000. Institutional investors and hedge funds own 16.51% of the company’s stock.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC’s service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.