Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 2.9% – Still a Buy?

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) were up 2.9% on Thursday . The company traded as high as $287.16 and last traded at $284.95. Approximately 11,209,644 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 14,252,439 shares. The stock had previously closed at $276.96.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TSM shares. Wall Street Zen raised Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Sunday. Itau BBA Securities began coverage on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, October 7th. They issued an “outperform” rating for the company. Sanford C. Bernstein boosted their target price on shares of Taiwan Semiconductor Manufacturing from $290.00 to $330.00 and gave the stock an “outperform” rating in a report on Sunday, December 7th. Barclays increased their price target on shares of Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $360.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Monday, October 27th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $355.00.

Taiwan Semiconductor Manufacturing Trading Up 2.9%

The business has a 50 day moving average of $292.66 and a two-hundred day moving average of $258.61. The firm has a market cap of $1.48 trillion, a P/E ratio of 29.23, a PEG ratio of 0.99 and a beta of 1.31. The company has a current ratio of 2.69, a quick ratio of 2.47 and a debt-to-equity ratio of 0.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Thursday, October 16th. The semiconductor company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.59 by $0.33. The firm had revenue of $32.36 billion for the quarter, compared to the consensus estimate of $951.89 billion. Taiwan Semiconductor Manufacturing had a net margin of 43.72% and a return on equity of 34.34%. The company’s quarterly revenue was up 40.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.94 earnings per share. Analysts predict 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 declared 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. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $3.87 annualized dividend and a yield of 1.4%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. Taiwan Semiconductor Manufacturing’s payout ratio is currently 31.28%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC grew its holdings in Taiwan Semiconductor Manufacturing by 1.0% in the 3rd quarter. Fisher Asset Management LLC now owns 17,833,127 shares of the semiconductor company’s stock valued at $4,980,614,000 after buying an additional 168,171 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 3.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 15,759,419 shares of the semiconductor company’s stock worth $4,401,448,000 after buying an additional 541,047 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Taiwan Semiconductor Manufacturing by 0.9% in the third quarter. Bank of America Corp DE now owns 14,935,893 shares of the semiconductor company’s stock valued at $4,171,445,000 after acquiring an additional 130,173 shares during the period. Jennison Associates LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 4.5% in the third quarter. Jennison Associates LLC now owns 12,591,542 shares of the semiconductor company’s stock valued at $3,516,692,000 after acquiring an additional 544,750 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Taiwan Semiconductor Manufacturing by 19.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,350,239 shares of the semiconductor company’s stock worth $2,050,141,000 after acquiring an additional 1,984,835 shares during the period. Institutional investors own 16.51% of the company’s stock.

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.