Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 2.3%

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shot up 2.3% during trading on Wednesday . The company traded as high as $190.78 and last traded at $188.75. 9,000,550 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 15,040,094 shares. The stock had previously closed at $184.52.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. TD Cowen boosted their target price on Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Thursday, April 18th. Needham & Company LLC reissued a “buy” rating and issued a $168.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Wednesday, May 22nd. Barclays upped their price objective on Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. Susquehanna upped their target price on Taiwan Semiconductor Manufacturing from $180.00 to $200.00 and gave the stock a “positive” rating in a report on Monday, June 17th. Finally, Sanford C. Bernstein upped their target price on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.60.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a fifty day simple moving average of $162.18 and a two-hundred day simple moving average of $138.94. The stock has a market cap of $980.96 billion, a price-to-earnings ratio of 35.95, a P/E/G ratio of 1.28 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.39.

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

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Thursday, September 12th will be given a dividend of $0.4865 per share. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. This represents a $1.95 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, September 12th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is currently 32.57%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TSM. Van ECK Associates Corp grew its stake in shares of Taiwan Semiconductor Manufacturing by 53.4% in the 1st quarter. Van ECK Associates Corp now owns 17,416,194 shares of the semiconductor company’s stock valued at $2,369,473,000 after buying an additional 6,060,511 shares during the period. Capital International Investors increased its holdings in Taiwan Semiconductor Manufacturing by 40.2% during the 1st quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock worth $2,679,602,000 after purchasing an additional 5,643,949 shares in the last quarter. Capital World Investors increased its holdings in Taiwan Semiconductor Manufacturing by 11.4% during the 4th quarter. Capital World Investors now owns 41,356,279 shares of the semiconductor company’s stock worth $4,301,178,000 after purchasing an additional 4,240,928 shares in the last quarter. Harding Loevner LP increased its holdings in Taiwan Semiconductor Manufacturing by 20.9% during the 4th quarter. Harding Loevner LP now owns 11,616,715 shares of the semiconductor company’s stock worth $1,222,768,000 after purchasing an additional 2,008,043 shares in the last quarter. Finally, GQG Partners LLC increased its holdings in Taiwan Semiconductor Manufacturing by 25.1% during the 1st quarter. GQG Partners LLC now owns 8,538,277 shares of the semiconductor company’s stock worth $1,161,633,000 after purchasing an additional 1,710,673 shares in the last quarter. 16.51% of the stock is owned by 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.