Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 2.3% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock price shot up 2.3% during mid-day trading on Thursday . The stock traded as high as $177.07 and last traded at $177.73. 3,483,068 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 15,035,666 shares. The stock had previously closed at $173.76.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays raised their target price on Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, January 17th. StockNews.com downgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and a consensus price target of $220.00.

Taiwan Semiconductor Manufacturing Stock Up 2.0 %

The firm’s fifty day simple moving average is $196.91 and its 200-day simple moving average is $191.95. The company has a market cap of $919.20 billion, a PE ratio of 25.21, a P/E/G ratio of 0.66 and a beta of 1.13. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Thursday, January 16th. The semiconductor company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. As a group, equities research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be issued a $0.6855 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 1.55%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, June 12th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 30.68%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Advisory Services Inc. lifted its stake in shares of Taiwan Semiconductor Manufacturing by 22.6% during the 3rd quarter. Meeder Advisory Services Inc. now owns 3,981 shares of the semiconductor company’s stock worth $691,000 after purchasing an additional 734 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in Taiwan Semiconductor Manufacturing by 14.9% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,582 shares of the semiconductor company’s stock worth $969,000 after buying an additional 722 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Taiwan Semiconductor Manufacturing in the 3rd quarter valued at about $295,000. Segall Bryant & Hamill LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 2.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 83,081 shares of the semiconductor company’s stock valued at $14,429,000 after acquiring an additional 2,101 shares during the last quarter. Finally, MWA Asset Management lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 1.2% during the 3rd quarter. MWA Asset Management now owns 7,014 shares of the semiconductor company’s stock worth $1,218,000 after acquiring an additional 85 shares during the period. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

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.