Taiwan Semiconductor Manufacturing (NYSE:TSM) Hits New 12-Month High – Time to Buy?

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $194.16 and last traded at $194.07, with a volume of 2791882 shares. The stock had previously closed at $190.81.

Wall Street Analysts Forecast Growth

TSM has been the topic of a number of research reports. Sanford C. Bernstein raised their target price on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. TD Cowen raised 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 report on Thursday, July 18th. Needham & Company LLC raised their target price on shares of Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Susquehanna reiterated a “positive” rating and issued a $250.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.00.

Taiwan Semiconductor Manufacturing Trading Down 2.6 %

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 business has a fifty day simple moving average of $173.17 and a 200 day simple moving average of $163.22. The company has a market cap of $970.48 billion, a price-to-earnings ratio of 33.47, a P/E/G ratio of 1.09 and a beta of 1.14.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. Taiwan Semiconductor Manufacturing had a return on equity of 25.54% and a net margin of 37.85%. The company had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.33 billion. During the same quarter last year, the company earned $1.14 earnings per share. Taiwan Semiconductor Manufacturing’s quarterly revenue was up 34.6% compared to the same quarter last year. On average, equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 EPS for the current fiscal 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 of this dividend is Thursday, December 12th. This represents a $1.95 dividend on an annualized basis and a yield of 1.04%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 35.24%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Seed Wealth Management Inc. raised its stake in shares of Taiwan Semiconductor Manufacturing by 1.3% during the 2nd quarter. Seed Wealth Management Inc. now owns 4,558 shares of the semiconductor company’s stock worth $792,000 after buying an additional 57 shares during the last quarter. Keudell Morrison Wealth Management raised its stake in shares of Taiwan Semiconductor Manufacturing by 1.5% during the 2nd quarter. Keudell Morrison Wealth Management now owns 4,027 shares of the semiconductor company’s stock worth $700,000 after buying an additional 59 shares during the last quarter. Heron Bay Capital Management raised its stake in shares of Taiwan Semiconductor Manufacturing by 1.0% during the 2nd quarter. Heron Bay Capital Management now owns 5,710 shares of the semiconductor company’s stock worth $992,000 after buying an additional 59 shares during the last quarter. Azzad Asset Management Inc. ADV raised its stake in shares of Taiwan Semiconductor Manufacturing by 0.4% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 14,166 shares of the semiconductor company’s stock worth $2,460,000 after buying an additional 63 shares during the last quarter. Finally, Foster Group Inc. raised its stake in shares of Taiwan Semiconductor Manufacturing by 1.5% during the 3rd quarter. Foster Group Inc. now owns 4,382 shares of the semiconductor company’s stock worth $761,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds 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.