Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading 2.3% Higher – Should You Buy?

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) traded up 2.3% on Monday . The stock traded as high as $302.62 and last traded at $301.4790. 15,382,236 shares traded hands during trading, an increase of 8% from the average session volume of 14,257,692 shares. The stock had previously closed at $294.72.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TSM. Sanford C. Bernstein raised their price objective on shares of Taiwan Semiconductor Manufacturing from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Sunday. Citigroup reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 17th. Needham & Company LLC restated a “buy” rating and set a $360.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Monday, October 27th. UBS Group set a $330.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Sunday. Finally, Itau BBA Securities initiated coverage on Taiwan Semiconductor Manufacturing in a report on Tuesday, October 7th. They issued an “outperform” rating on the stock. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Taiwan Semiconductor Manufacturing presently has an average rating of “Buy” and a consensus target price of $355.00.

Taiwan Semiconductor Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.69 and a quick ratio of 2.47. The stock has a 50 day moving average price of $293.32 and a two-hundred day moving average price of $255.31. The firm has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 31.83, a PEG ratio of 1.04 and a beta of 1.31.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, October 16th. The semiconductor company reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.33. Taiwan Semiconductor Manufacturing had a net margin of 43.72% and a return on equity of 34.34%. The firm had revenue of $32.36 billion during the quarter, compared to analysts’ expectations of $951.89 billion. During the same quarter in the previous year, the business posted $1.94 earnings per share. The business’s quarterly revenue was up 40.1% compared to the same quarter last year. As a group, analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Tuesday, March 17th will be issued a $0.9678 dividend. This represents a $3.87 dividend on an annualized basis and a yield of 1.2%. 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 currently 26.67%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds have recently made changes to their positions in the company. Heartwood Wealth Advisors LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing during the third quarter worth about $32,000. Cedar Wealth Management LLC lifted its position in Taiwan Semiconductor Manufacturing by 91.4% during the 3rd quarter. Cedar Wealth Management LLC now owns 134 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 64 shares during the period. Fairman Group LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 171.2% in the 3rd quarter. Fairman Group LLC now owns 141 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 89 shares during the last quarter. Resources Management Corp CT ADV purchased a new position in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter valued at approximately $32,000. Finally, Mid American Wealth Advisory Group Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $33,000. Hedge funds and other 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.