Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading 3.1% Higher Following Analyst Upgrade

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) traded up 3.1% during trading on Wednesday after Needham & Company LLC raised their price target on the stock from $225.00 to $270.00. Needham & Company LLC currently has a buy rating on the stock. Taiwan Semiconductor Manufacturing traded as high as $231.68 and last traded at $231.69. 4,164,036 shares were traded during trading, a decline of 73% from the average session volume of 15,418,526 shares. The stock had previously closed at $224.68.

Several other equities research analysts also recently commented on TSM. Barclays reaffirmed an “overweight” rating and set a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Citigroup reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Finally, Susquehanna upped their price target on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a “positive” rating in a research report on Tuesday, June 17th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $233.75.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. IMG Wealth Management Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth approximately $26,000. Hopwood Financial Services Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth approximately $27,000. City Holding Co. increased its position in shares of Taiwan Semiconductor Manufacturing by 238.0% in the first quarter. City Holding Co. now owns 169 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 119 shares during the last quarter. 1248 Management LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the first quarter worth approximately $28,000. Finally, Accredited Wealth Management LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth approximately $31,000. 16.51% of the stock is currently owned by institutional investors.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a quick ratio of 2.18, a current ratio of 2.39 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average is $198.99 and its two-hundred day moving average is $191.22. The company has a market capitalization of $1.22 trillion, a P/E ratio of 30.27, a PEG ratio of 1.21 and a beta of 1.29.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.09. The business had revenue of $25.82 billion during the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. Equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be paid a $0.6499 dividend. This represents a $2.60 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 30.59%.

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.