Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading 6.2% Higher Following Analyst Upgrade

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price shot up 6.2% on Wednesday after Barclays raised their price target on the stock from $150.00 to $170.00. Barclays currently has an overweight rating on the stock. Taiwan Semiconductor Manufacturing traded as high as $163.12 and last traded at $161.90. 10,216,109 shares were traded during trading, a decline of 31% from the average session volume of 14,816,291 shares. The stock had previously closed at $152.47.

A number of other equities research analysts also recently weighed in on TSM. Susquehanna boosted their price objective on shares of Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Tuesday, April 2nd. Needham & Company LLC restated a “buy” rating and issued a $168.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Wednesday, May 22nd. TD Cowen boosted their price target on Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Thursday, April 18th. Finally, StockNews.com raised shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSM. Cadence Bank lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 0.5% during the first quarter. Cadence Bank now owns 15,004 shares of the semiconductor company’s stock worth $2,041,000 after buying an additional 69 shares during the last quarter. Joel Isaacson & Co. LLC boosted its holdings in Taiwan Semiconductor Manufacturing by 2.5% during the first quarter. Joel Isaacson & Co. LLC now owns 3,048 shares of the semiconductor company’s stock valued at $415,000 after purchasing an additional 74 shares in the last quarter. Toth Financial Advisory Corp grew its stake in shares of Taiwan Semiconductor Manufacturing by 3.3% in the 1st quarter. Toth Financial Advisory Corp now owns 2,288 shares of the semiconductor company’s stock valued at $311,000 after purchasing an additional 74 shares during the period. Principle Wealth Partners LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 1.3% during the 1st quarter. Principle Wealth Partners LLC now owns 5,940 shares of the semiconductor company’s stock worth $808,000 after buying an additional 77 shares during the period. Finally, BOKF NA boosted its stake in Taiwan Semiconductor Manufacturing by 4.8% in the 1st quarter. BOKF NA now owns 1,762 shares of the semiconductor company’s stock valued at $249,000 after buying an additional 81 shares in the last quarter. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a fifty day simple moving average of $144.39 and a 200-day simple moving average of $125.88. The company has a quick ratio of 2.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $840.41 billion, a P/E ratio of 31.06, a PEG ratio of 1.11 and a beta of 1.11.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings data on Thursday, April 18th. The semiconductor company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.09. The company had revenue of $18.87 billion during the quarter, compared to analyst estimates of $18.38 billion. Taiwan Semiconductor Manufacturing had a net margin of 38.15% and a return on equity of 24.75%. Equities analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.13 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.4865 per share. This represents a $1.95 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 32.76%.

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.