Brokerages Set Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Target Price at $490.00

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) have been assigned an average rating of “Buy” from the sixteen brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $496.25.

A number of equities research analysts have recently issued reports on the stock. Citigroup reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Monday, July 6th. Weiss Ratings cut shares of Taiwan Semiconductor Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, July 13th. Bank of America lifted their target price on shares of Taiwan Semiconductor Manufacturing from $490.00 to $590.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. DA Davidson boosted their target price on Taiwan Semiconductor Manufacturing from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, Susquehanna upped their price target on Taiwan Semiconductor Manufacturing from $575.00 to $600.00 and gave the stock a “positive” rating in a research note on Thursday, July 16th.

Insider Buying and Selling

In other news, VP Lipen Yuan bought 1,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average cost of $79.19 per share, for a total transaction of $79,190.00. Following the acquisition, the vice president directly owned 5,000 shares of the company’s stock, valued at $395,950. The trade was a 25.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Tzu-Sou Chuang sold 200,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $69.83, for a total transaction of $13,966,000.00. Following the sale, the vice president owned 2,495,165 shares in the company, valued at $174,237,371.95. This trade represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have bought 6,857 shares of company stock valued at $512,334. Corporate insiders own 1.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TSM. Brighton Jones LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 20.9% during the fourth quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company’s stock worth $2,159,000 after buying an additional 1,892 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $701,000. Bank of Nova Scotia lifted its stake in Taiwan Semiconductor Manufacturing by 12.8% in the second quarter. Bank of Nova Scotia now owns 15,697 shares of the semiconductor company’s stock worth $3,556,000 after acquiring an additional 1,784 shares during the last quarter. FWL Investment Management LLC lifted its stake in Taiwan Semiconductor Manufacturing by 26.5% in the second quarter. FWL Investment Management LLC now owns 253 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 53 shares during the last quarter. Finally, Main Street Financial Solutions LLC acquired a new position in Taiwan Semiconductor Manufacturing during the 2nd quarter worth approximately $270,000. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Stock Down 0.9%

Shares of NYSE:TSM opened at $399.94 on Friday. The company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 28.86, a PEG ratio of 0.93 and a beta of 1.36. Taiwan Semiconductor Manufacturing has a 12-month low of $223.70 and a 12-month high of $479.00. The business has a 50-day moving average price of $427.75 and a 200 day moving average price of $382.65. The company has a current ratio of 2.49, a quick ratio of 2.31 and a debt-to-equity ratio of 0.16.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its earnings results on Tuesday, June 30th. The semiconductor company reported $4.28 EPS for the quarter. The company had revenue of $39.89 billion for the quarter. Taiwan Semiconductor Manufacturing had a net margin of 50.31% and a return on equity of 40.88%. Sell-side analysts expect that Taiwan Semiconductor Manufacturing will post 16.34 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 16th will be issued a $1.1136 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $4.45 annualized dividend and a dividend yield of 1.1%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.95. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 21.43%.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC’s service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.