Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 2.8% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) shares rose 2.8% during mid-day trading on Monday . The stock traded as high as $349.40 and last traded at $348.5060. Approximately 18,669,665 shares changed hands during trading, an increase of 32% from the average daily volume of 14,124,307 shares. The stock had previously closed at $338.89.

Analysts Set New Price Targets

A number of brokerages have commented on TSM. Zacks Research upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings cut Taiwan Semiconductor Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Argus upgraded Taiwan Semiconductor Manufacturing to a “strong-buy” rating in a research note on Thursday, January 15th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, January 2nd. Finally, Barclays boosted their price target on shares of Taiwan Semiconductor Manufacturing from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $391.43.

Taiwan Semiconductor Manufacturing Price Performance

The company has a current ratio of 2.62, a quick ratio of 2.42 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.81 trillion, a P/E ratio of 32.72, a PEG ratio of 0.95 and a beta of 1.29. The company has a fifty day simple moving average of $343.05 and a two-hundred day simple moving average of $302.58.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings results on Thursday, February 26th. The semiconductor company reported $3.11 earnings per share for the quarter. Taiwan Semiconductor Manufacturing had a net margin of 45.13% and a return on equity of 34.89%. The business had revenue of $30.65 billion during the quarter. Sell-side analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 11th will be given a dividend of $0.9503 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $3.80 dividend on an annualized basis and a yield of 1.1%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 23.57%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Large investors have recently added to or reduced their stakes in the company. Mitchell Sinkler & Starr PA lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 1.9% in the 4th quarter. Mitchell Sinkler & Starr PA now owns 1,482 shares of the semiconductor company’s stock valued at $450,000 after buying an additional 28 shares during the period. Wayfinding Financial LLC increased its holdings in Taiwan Semiconductor Manufacturing by 2.5% in the fourth quarter. Wayfinding Financial LLC now owns 1,152 shares of the semiconductor company’s stock valued at $350,000 after buying an additional 28 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in shares of Taiwan Semiconductor Manufacturing by 3.6% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 868 shares of the semiconductor company’s stock worth $264,000 after acquiring an additional 30 shares in the last quarter. Oak Harvest Investment Services raised its holdings in Taiwan Semiconductor Manufacturing by 2.9% during the fourth quarter. Oak Harvest Investment Services now owns 1,106 shares of the semiconductor company’s stock worth $336,000 after purchasing an additional 31 shares during the last quarter. Finally, Solstein Capital LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 4.8% in the fourth quarter. Solstein Capital LLC now owns 695 shares of the semiconductor company’s stock valued at $211,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds 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.