Taiwan Semiconductor Manufacturing (NYSE:TSM) Reaches New 1-Year High – Should You Buy?

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) hit a new 52-week high on Monday . The company traded as high as $353.20 and last traded at $357.0850, with a volume of 1398281 shares. The stock had previously closed at $348.85.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. UBS Group set a $330.00 target price on Taiwan Semiconductor Manufacturing in a research note on Sunday, December 7th. TD Cowen upped their price objective on shares of Taiwan Semiconductor Manufacturing from $325.00 to $370.00 and gave the company a “hold” rating in a research note on Friday, January 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Monday, December 29th. Finally, Citigroup reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, January 9th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $381.67.

Taiwan Semiconductor Manufacturing Trading Up 1.7%

The company has a current ratio of 2.69, a quick ratio of 2.47 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average price is $314.52 and its 200 day moving average price is $284.76. The stock has a market cap of $1.84 trillion, a P/E ratio of 33.33, a PEG ratio of 0.98 and a beta of 1.31.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Friday, November 14th. The semiconductor company reported $14.32 earnings per share for the quarter. Taiwan Semiconductor Manufacturing had a net margin of 45.13% and a return on equity of 36.18%. The business had revenue of $32.50 billion for the quarter. Equities research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 17th will be issued a $0.9678 dividend. This represents a $3.87 annualized dividend and a yield of 1.1%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, March 17th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 23.57%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several large investors have recently modified their holdings of the stock. Jennison Associates LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 26.7% in the second quarter. Jennison Associates LLC now owns 12,046,792 shares of the semiconductor company’s stock worth $2,728,478,000 after buying an additional 2,537,760 shares in the last quarter. Brown Advisory Inc. raised its holdings in Taiwan Semiconductor Manufacturing by 43.2% in the 2nd quarter. Brown Advisory Inc. now owns 6,650,983 shares of the semiconductor company’s stock worth $1,506,389,000 after acquiring an additional 2,006,745 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Taiwan Semiconductor Manufacturing by 109.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,526,160 shares of the semiconductor company’s stock valued at $798,640,000 after acquiring an additional 1,842,951 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Taiwan Semiconductor Manufacturing by 268.2% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,499,677 shares of the semiconductor company’s stock valued at $566,152,000 after purchasing an additional 1,820,852 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth $495,163,000. Hedge funds and other institutional investors own 16.51% of the company’s stock.

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.