Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $168.00 target price on the semiconductor company’s stock.

A number of other analysts have also commented on the company. StockNews.com raised Taiwan Semiconductor Manufacturing from a hold rating to a buy rating in a research note on Thursday, April 11th. TD Cowen raised their price target on Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the stock a hold rating in a research note on Thursday, April 18th. Barclays raised their price target on Taiwan Semiconductor Manufacturing from $145.00 to $150.00 and gave the stock an overweight rating in a research note on Friday, April 19th. Finally, Susquehanna increased their price objective on Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the stock a positive rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $157.00.

Taiwan Semiconductor Manufacturing Stock Performance

NYSE:TSM opened at $160.00 on Wednesday. The firm has a market cap of $829.83 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.13. Taiwan Semiconductor Manufacturing has a fifty-two week low of $84.01 and a fifty-two week high of $160.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.39. The business has a 50 day moving average price of $142.03 and a 200-day moving average price of $122.82.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, April 18th. The semiconductor company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $18.38 billion. Equities research analysts predict that Taiwan Semiconductor Manufacturing will post 6.13 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Thursday, September 12th will be issued a $0.4865 dividend. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, September 12th. This represents a $1.95 dividend on an annualized basis and a yield of 1.22%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 32.76%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of Taiwan Semiconductor Manufacturing by 53.4% during the first quarter. Van ECK Associates Corp now owns 17,416,194 shares of the semiconductor company’s stock valued at $2,369,473,000 after acquiring an additional 6,060,511 shares in the last quarter. Capital International Investors increased its holdings in shares of Taiwan Semiconductor Manufacturing by 40.2% during the first quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock valued at $2,679,602,000 after acquiring an additional 5,643,949 shares in the last quarter. Capital World Investors increased its holdings in shares of Taiwan Semiconductor Manufacturing by 11.4% during the fourth quarter. Capital World Investors now owns 41,356,279 shares of the semiconductor company’s stock valued at $4,301,178,000 after acquiring an additional 4,240,928 shares in the last quarter. Morgan Stanley increased its holdings in shares of Taiwan Semiconductor Manufacturing by 11.2% during the third quarter. Morgan Stanley now owns 23,804,180 shares of the semiconductor company’s stock valued at $2,068,583,000 after acquiring an additional 2,400,882 shares in the last quarter. Finally, Harding Loevner LP increased its holdings in shares of Taiwan Semiconductor Manufacturing by 20.9% during the fourth quarter. Harding Loevner LP now owns 11,616,715 shares of the semiconductor company’s stock valued at $1,222,768,000 after acquiring an additional 2,008,043 shares in the last quarter. Institutional investors own 16.51% of the company’s stock.

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.