Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 4.9% Following Earnings Beat

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock price rose 4.9% on Thursday following a stronger than expected earnings report. The company traded as high as $221.95 and last traded at $216.87. Approximately 23,181,844 shares traded hands during mid-day trading, an increase of 41% from the average daily volume of 16,389,395 shares. The stock had previously closed at $206.80.

The semiconductor company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Tuesday, March 18th will be paid a $0.5484 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $2.19 annualized dividend and a dividend yield of 1.01%. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is currently 30.77%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TSM shares. Susquehanna reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday. StockNews.com downgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Finally, Barclays boosted their price target on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing has a consensus rating of “Moderate Buy” and an average price target of $217.00.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors have recently added to or reduced their stakes in the stock. FWG Holdings LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 1.6% during the 3rd quarter. FWG Holdings LLC now owns 3,106 shares of the semiconductor company’s stock valued at $539,000 after acquiring an additional 50 shares during the period. Elmwood Wealth Management Inc. grew its stake in shares of Taiwan Semiconductor Manufacturing by 3.7% during the 4th quarter. Elmwood Wealth Management Inc. now owns 1,405 shares of the semiconductor company’s stock worth $277,000 after acquiring an additional 50 shares during the period. Defender Capital LLC. grew its stake in shares of Taiwan Semiconductor Manufacturing by 3.7% during the 3rd quarter. Defender Capital LLC. now owns 1,565 shares of the semiconductor company’s stock worth $272,000 after acquiring an additional 56 shares during the period. Hardy Reed LLC boosted its position in Taiwan Semiconductor Manufacturing by 1.2% during the third quarter. Hardy Reed LLC now owns 4,635 shares of the semiconductor company’s stock worth $805,000 after purchasing an additional 56 shares during the period. Finally, Logan Capital Management Inc. boosted its position in Taiwan Semiconductor Manufacturing by 20.1% during the third quarter. Logan Capital Management Inc. now owns 334 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 56 shares during the period. Institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Price Performance

The business’s 50-day simple moving average is $197.26 and its two-hundred day simple moving average is $183.79. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.13 trillion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07.

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.