Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 2% After Dividend Announcement

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) were up 2% on Thursday following a dividend announcement from the company. The stock traded as high as $192.57 and last traded at $190.48. Approximately 4,752,055 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 15,425,985 shares. The stock had previously closed at $186.66.

The newly announced dividend which will be paid on Thursday, April 10th. Investors of record on Tuesday, March 18th will be paid a $0.5484 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.19 dividend on an annualized basis and a yield of 1.15%. 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 31.09%.

Analysts Set New Price Targets

TSM has been the subject of several recent analyst reports. Susquehanna reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Barclays lifted their price objective on shares of Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. TD Cowen raised their target price 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, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing presently has an average rating of “Moderate Buy” and a consensus target price of $209.00.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.23. The stock has a market cap of $987.91 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 0.91 and a beta of 1.12. The firm’s 50-day moving average is $184.70 and its two-hundred day moving average is $171.47.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its earnings results on Thursday, October 17th. The semiconductor company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.30%. The firm had revenue of $23.50 billion for the quarter, compared to the consensus estimate of $22.72 billion. As a group, research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.73 EPS for the current year.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the first quarter worth $210,000. Koshinski Asset Management Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing during the 1st quarter worth about $480,000. TBH Global Asset Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the first quarter valued at about $266,000. Kingsview Wealth Management LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 4.0% in the first quarter. Kingsview Wealth Management LLC now owns 15,221 shares of the semiconductor company’s stock valued at $2,071,000 after buying an additional 585 shares during the period. Finally, HBK Sorce Advisory LLC grew its position in Taiwan Semiconductor Manufacturing by 16.9% during the first quarter. HBK Sorce Advisory LLC now owns 6,345 shares of the semiconductor company’s stock worth $863,000 after buying an additional 915 shares in the last quarter. 16.51% of the stock is currently owned by institutional investors.

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.