Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 2.3% – Here’s Why

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shot up 2.3% during mid-day trading on Friday . The company traded as high as $206.90 and last traded at $206.24. 3,581,308 shares traded hands during trading, a decline of 49% from the average session volume of 7,033,531 shares. The stock had previously closed at $201.58.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TSM shares. Barclays raised their target price on Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, October 17th. StockNews.com downgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Finally, Susquehanna reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 18th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.00.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a market cap of $1.08 trillion, a PE ratio of 33.38, a P/E/G ratio of 0.93 and a beta of 1.09. The firm’s 50-day moving average is $195.14 and its 200 day moving average is $181.77. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.30 and a current ratio of 2.57.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%. The firm had revenue of $23.50 billion for the quarter, compared to analyst estimates of $22.72 billion. As a group, research analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.5484 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.19 dividend on an annualized basis and a yield of 1.05%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 35.10%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Institutional investors have recently modified their holdings of the business. TIAA Trust National Association increased its stake in Taiwan Semiconductor Manufacturing by 1.5% in the 2nd quarter. TIAA Trust National Association now owns 13,146 shares of the semiconductor company’s stock valued at $2,285,000 after purchasing an additional 198 shares in the last quarter. Fortem Financial Group LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter worth $243,000. Cozad Asset Management Inc. grew its stake in Taiwan Semiconductor Manufacturing by 5.1% in the 2nd quarter. Cozad Asset Management Inc. now owns 10,690 shares of the semiconductor company’s stock valued at $1,858,000 after acquiring an additional 523 shares during the last quarter. Simon Quick Advisors LLC increased its holdings in Taiwan Semiconductor Manufacturing by 39.3% during the 2nd quarter. Simon Quick Advisors LLC now owns 4,774 shares of the semiconductor company’s stock valued at $830,000 after acquiring an additional 1,346 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Taiwan Semiconductor Manufacturing by 52.7% during the second quarter. Larson Financial Group LLC now owns 803 shares of the semiconductor company’s stock worth $140,000 after acquiring an additional 277 shares during the last quarter. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

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.