Taiwan Semiconductor Manufacturing (NYSE:TSM) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) in a research note issued to investors on Thursday, Marketbeat reports. The brokerage currently has a $210.00 target price on the semiconductor company’s stock.

Other equities research analysts have also issued research reports about the company. TD Cowen increased their price target on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Susquehanna reaffirmed a “positive” rating and issued a $250.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, August 14th. Finally, Sanford C. Bernstein increased their price target on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing has a consensus rating of “Moderate Buy” and a consensus price target of $200.00.

Taiwan Semiconductor Manufacturing Price Performance

TSM opened at $200.78 on Thursday. The stock’s 50-day moving average price is $175.31 and its 200 day moving average price is $164.27. Taiwan Semiconductor Manufacturing has a 12-month low of $84.95 and a 12-month high of $212.60. 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 market cap of $1.04 trillion, a price-to-earnings ratio of 38.24, a PEG ratio of 1.13 and a beta of 1.14.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share (EPS) 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 analyst estimates of $20.33 billion. Taiwan Semiconductor Manufacturing had a return on equity of 25.54% and a net margin of 37.85%. Taiwan Semiconductor Manufacturing’s revenue was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. As a group, sell-side analysts expect that Taiwan Semiconductor Manufacturing will post 6.45 earnings per share 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. Stockholders of record on Thursday, December 12th will be given a dividend of $0.4871 per share. This represents a $1.95 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 36.95%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds and other institutional investors have recently made changes to their positions in TSM. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter worth about $25,000. Olistico Wealth LLC purchased a new position in Taiwan Semiconductor Manufacturing during the 2nd quarter worth approximately $27,000. Valley Wealth Managers Inc. purchased a new position in Taiwan Semiconductor Manufacturing during the 2nd quarter worth approximately $27,000. North Star Investment Management Corp. grew its stake in Taiwan Semiconductor Manufacturing by 670.4% during the 1st quarter. North Star Investment Management Corp. now owns 208 shares of the semiconductor company’s stock worth $28,000 after buying an additional 181 shares during the last quarter. Finally, NewSquare Capital LLC purchased a new position in Taiwan Semiconductor Manufacturing during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 16.51% of the company’s stock.

About Taiwan Semiconductor Manufacturing

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.