Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 3.3% After Analyst Upgrade

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSMGet Free Report) shares rose 3.3% on Tuesday 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 $236.20 and last traded at $236.24. Approximately 6,174,262 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 15,218,727 shares. The stock had previously closed at $228.67.

Several other equities research analysts have also commented on TSM. Barclays restated an “overweight” rating and issued a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Finally, Susquehanna lifted their price objective 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Taiwan Semiconductor Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.25.

Get Our Latest Stock Analysis on Taiwan Semiconductor Manufacturing

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TSM. New Vernon Capital Holdings II LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 16,500.0% in the first quarter. New Vernon Capital Holdings II LLC now owns 6,707,064 shares of the semiconductor company’s stock valued at $1,113,373,000 after acquiring an additional 6,666,660 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Taiwan Semiconductor Manufacturing by 55.6% during the first quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company’s stock worth $2,872,814,000 after purchasing an additional 6,180,445 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Taiwan Semiconductor Manufacturing by 67.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company’s stock valued at $2,047,065,000 after purchasing an additional 4,158,772 shares during the period. Nuveen LLC purchased a new position in Taiwan Semiconductor Manufacturing in the 1st quarter worth approximately $482,676,000. Finally, FMR LLC boosted its stake in Taiwan Semiconductor Manufacturing by 4.6% in the 4th quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company’s stock worth $11,562,498,000 after purchasing an additional 2,572,488 shares during the period. Institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Stock Performance

The firm has a market capitalization of $1.23 trillion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 1.28 and a beta of 1.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.18 and a current ratio of 2.39. The business’s fifty day simple moving average is $210.05 and its 200-day simple moving average is $193.12.

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

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.6499 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 31.75%.

About Taiwan Semiconductor Manufacturing

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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.

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