Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 2%

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock price was up 2% during mid-day trading on Thursday . The company traded as high as $164.59 and last traded at $164.02. Approximately 2,731,359 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 15,800,996 shares. The stock had previously closed at $160.87.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays raised their target price on Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. Needham & Company LLC raised their price objective on shares of Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Sanford C. Bernstein boosted their target price on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Susquehanna restated a “positive” rating and set a $250.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Wednesday, August 14th. Finally, TD Cowen upped their price objective on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing has a consensus rating of “Moderate Buy” and an average target price of $200.00.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.47 and a quick ratio of 2.21. The firm has a market capitalization of $813.49 billion, a PE ratio of 29.88, a P/E/G ratio of 0.94 and a beta of 1.14. The company’s fifty day simple moving average is $169.79 and its 200 day simple moving average is $155.09.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, July 18th. The semiconductor company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. Taiwan Semiconductor Manufacturing had a net margin of 37.85% and a return on equity of 25.54%. The company had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.33 billion. During the same period in the prior year, the company posted $1.14 EPS. Taiwan Semiconductor Manufacturing’s revenue was up 34.6% compared to the same quarter last year. As a group, equities research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be paid a dividend of $0.4871 per share. This represents a $1.95 dividend on an annualized basis and a dividend yield of 1.24%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, December 12th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 32.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TSM. Sanders Capital LLC grew its stake in Taiwan Semiconductor Manufacturing by 3.5% during the fourth quarter. Sanders Capital LLC now owns 44,527,327 shares of the semiconductor company’s stock valued at $4,630,842,000 after acquiring an additional 1,501,548 shares in the last quarter. Capital World Investors grew its position in shares of Taiwan Semiconductor Manufacturing by 1.7% during the 1st quarter. Capital World Investors now owns 42,061,083 shares of the semiconductor company’s stock valued at $5,722,410,000 after purchasing an additional 704,804 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 31,060,369 shares of the semiconductor company’s stock worth $3,230,279,000 after purchasing an additional 422,976 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Taiwan Semiconductor Manufacturing by 6.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 28,443,595 shares of the semiconductor company’s stock worth $2,958,134,000 after buying an additional 1,649,279 shares in the last quarter. Finally, Capital International Investors boosted its stake in Taiwan Semiconductor Manufacturing by 40.2% during the first quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock valued at $2,679,602,000 after buying an additional 5,643,949 shares during the period. Hedge funds and other institutional investors 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.