Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 4.6%

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock price rose 4.6% during trading on Thursday . The stock traded as high as $175.08 and last traded at $174.92. Approximately 4,328,963 shares traded hands during trading, a decline of 72% from the average daily volume of 15,570,156 shares. The stock had previously closed at $167.28.

Analysts Set New Price Targets

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

Taiwan Semiconductor Manufacturing Stock Up 5.4 %

The firm has a market cap of $914.00 billion, a price-to-earnings ratio of 33.32, a P/E/G ratio of 0.99 and a beta of 1.14. The company has a current ratio of 2.47, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average price of $167.47 and a 200-day moving average price of $157.46.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.11. The firm had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.33 billion. Taiwan Semiconductor Manufacturing had a return on equity of 25.54% and a net margin of 37.85%. The firm’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 earnings per share. On average, equities analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a $0.4871 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.95 dividend on an annualized basis and a yield of 1.11%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is currently 37.71%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sanders Capital LLC grew its position in Taiwan Semiconductor Manufacturing by 3.5% in the 4th quarter. Sanders Capital LLC now owns 44,527,327 shares of the semiconductor company’s stock worth $4,630,842,000 after purchasing an additional 1,501,548 shares during the last quarter. Capital World Investors boosted its position in Taiwan Semiconductor Manufacturing by 1.7% in 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 buying an additional 704,804 shares during the last quarter. Fisher Asset Management LLC lifted its position in Taiwan Semiconductor Manufacturing by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 31,060,369 shares of the semiconductor company’s stock valued at $3,230,279,000 after purchasing an additional 422,976 shares during the period. Capital International Investors raised its position in shares of Taiwan Semiconductor Manufacturing by 40.2% during the 1st quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock valued at $2,679,602,000 after acquiring an additional 5,643,949 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Taiwan Semiconductor Manufacturing by 4.3% during the second quarter. Van ECK Associates Corp now owns 18,167,165 shares of the semiconductor company’s stock valued at $3,157,635,000 after purchasing an additional 750,971 shares during the period. 16.51% of the stock is owned by institutional investors and hedge funds.

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.