Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading 2% Higher on Analyst Upgrade

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSMGet Free Report) was up 2% during mid-day trading on Friday after Needham & Company LLC raised their price target on the stock from $410.00 to $480.00. Needham & Company LLC currently has a buy rating on the stock. Taiwan Semiconductor Manufacturing traded as high as $375.58 and last traded at $370.5790. Approximately 18,267,358 shares were traded during trading, an increase of 31% from the average daily volume of 13,995,975 shares. The stock had previously closed at $363.35.

A number of other brokerages have also issued reports on TSM. Barclays upped their target price on shares of Taiwan Semiconductor Manufacturing from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Zacks Research cut shares of Taiwan Semiconductor Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, January 2nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Monday, January 5th. Finally, Argus raised shares of Taiwan Semiconductor Manufacturing to a “strong-buy” rating in a research note on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $401.43.

Check Out Our Latest Stock Analysis on Taiwan Semiconductor Manufacturing

Insider Transactions at Taiwan Semiconductor Manufacturing

In related news, VP Bor-Zen Tien bought 1,000 shares of the firm’s stock in a transaction dated Sunday, March 22nd. The stock was bought at an average cost of $55.93 per share, for a total transaction of $55,930.00. Following the transaction, the vice president owned 9,051 shares of the company’s stock, valued at $506,222.43. This represents a 12.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.11% of the company’s stock.

More Taiwan Semiconductor Manufacturing News

Here are the key news stories impacting Taiwan Semiconductor Manufacturing this week:

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Mitchell Sinkler & Starr PA grew its holdings in shares of Taiwan Semiconductor Manufacturing by 1.9% in the 4th quarter. Mitchell Sinkler & Starr PA now owns 1,482 shares of the semiconductor company’s stock valued at $450,000 after buying an additional 28 shares during the period. Wayfinding Financial LLC raised its stake in Taiwan Semiconductor Manufacturing by 2.5% during the 4th quarter. Wayfinding Financial LLC now owns 1,152 shares of the semiconductor company’s stock worth $350,000 after buying an additional 28 shares during the period. Defined Wealth Management LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 2.2% during the first quarter. Defined Wealth Management LLC now owns 1,355 shares of the semiconductor company’s stock worth $458,000 after acquiring an additional 29 shares in the last quarter. Discipline Wealth Solutions LLC grew its stake in Taiwan Semiconductor Manufacturing by 1.9% in the first quarter. Discipline Wealth Solutions LLC now owns 1,564 shares of the semiconductor company’s stock valued at $529,000 after acquiring an additional 29 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its stake in Taiwan Semiconductor Manufacturing by 3.6% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 868 shares of the semiconductor company’s stock valued at $264,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Stock Up 2.0%

The company has a market capitalization of $1.92 trillion, a P/E ratio of 34.80, a P/E/G ratio of 1.15 and a beta of 1.35. The company has a quick ratio of 2.42, a current ratio of 2.62 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $354.34 and a 200-day simple moving average of $320.99.

Taiwan Semiconductor Manufacturing (NYSE:TSMGet Free Report) last released its quarterly earnings data on Tuesday, February 10th. The semiconductor company reported $3.11 earnings per share for the quarter. Taiwan Semiconductor Manufacturing had a return on equity of 34.89% and a net margin of 45.13%.The business had revenue of $30.65 billion for the quarter. On average, equities research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 11th will be paid a $0.9503 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $3.80 dividend on an annualized basis and a yield of 1.0%. Taiwan Semiconductor Manufacturing’s payout ratio is presently 28.17%.

About Taiwan Semiconductor Manufacturing

(Get Free Report)

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.

Further Reading

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