Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 1.5% – Time to Buy?

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) were up 1.5% during mid-day trading on Wednesday . The stock traded as high as $190.01 and last traded at $189.89. Approximately 5,798,388 shares were traded during trading, a decline of 62% from the average daily volume of 15,306,279 shares. The stock had previously closed at $187.13.

Analysts Set New Price Targets

A number of equities research analysts have commented on TSM shares. Needham & Company LLC restated a “buy” rating and issued a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday. Sanford C. Bernstein boosted 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. TD Cowen increased their target price on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Finally, Susquehanna reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $200.00.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a 50-day moving average price of $174.64 and a 200 day moving average price of $163.69. The company has a quick ratio of 2.21, a current ratio of 2.47 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 38.41, a P/E/G ratio of 1.13 and a beta of 1.14.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings results on Thursday, July 18th. The semiconductor company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.37 by $0.11. The company had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.33 billion. Taiwan Semiconductor Manufacturing had a net margin of 37.85% and a return on equity of 25.54%. The firm’s revenue was up 34.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. On average, 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 declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be paid a $0.4871 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $1.95 dividend on an annualized basis and a yield of 0.97%. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is currently 36.95%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Several institutional investors have recently modified their holdings of TSM. Van ECK Associates Corp lifted its position in Taiwan Semiconductor Manufacturing by 53.4% in the first quarter. Van ECK Associates Corp now owns 17,416,194 shares of the semiconductor company’s stock valued at $2,369,473,000 after acquiring an additional 6,060,511 shares during the last quarter. Capital International Investors increased its position in shares of 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 worth $2,679,602,000 after purchasing an additional 5,643,949 shares in the last quarter. PineStone Asset Management Inc. lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 116.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,784,316 shares of the semiconductor company’s stock valued at $1,352,992,000 after purchasing an additional 4,186,133 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Taiwan Semiconductor Manufacturing by 669.7% in the 2nd quarter. Clearbridge Investments LLC now owns 3,721,489 shares of the semiconductor company’s stock valued at $646,832,000 after purchasing an additional 3,237,998 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Taiwan Semiconductor Manufacturing by 1,226.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,983,830 shares of the semiconductor company’s stock worth $344,809,000 after buying an additional 1,834,298 shares during the last quarter. 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.