Taiwan Semiconductor Manufacturing (NYSE:TSM) Hits New 1-Year High – Here’s Why

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $311.50 and last traded at $312.6630, with a volume of 7504172 shares traded. The stock had previously closed at $303.41.

Analyst Upgrades and Downgrades

TSM has been the subject of a number of analyst reports. Barclays increased their price target on Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Needham & Company LLC restated a “buy” rating and issued a $360.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Monday, October 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Monday. Citigroup reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 17th. Finally, UBS Group set a $330.00 target price on Taiwan Semiconductor Manufacturing in a report on Sunday. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing has a consensus rating of “Buy” and an average target price of $355.00.

Taiwan Semiconductor Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.47 and a current ratio of 2.69. The company has a market capitalization of $1.61 trillion, a P/E ratio of 31.90, a P/E/G ratio of 1.04 and a beta of 1.31. The firm’s fifty day moving average is $292.89 and its 200 day moving average is $254.92.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Thursday, October 16th. The semiconductor company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.33. Taiwan Semiconductor Manufacturing had a return on equity of 34.34% and a net margin of 43.72%.The business had revenue of $32.36 billion during the quarter, compared to analyst estimates of $951.89 billion. During the same quarter in the previous year, the business earned $1.94 earnings per share. The company’s revenue for the quarter was up 40.1% compared to the same quarter last year. As a group, analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 17th will be paid a $0.9678 dividend. The ex-dividend date is Tuesday, March 17th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. This represents a $3.87 dividend on an annualized basis and a yield of 1.2%. Taiwan Semiconductor Manufacturing’s payout ratio is 26.67%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Hedge funds and other institutional investors have recently made changes to their positions in the company. 1248 Management LLC purchased a new position in Taiwan Semiconductor Manufacturing during the first quarter valued at approximately $28,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 3rd quarter valued at about $32,000. Resources Management Corp CT ADV purchased a new position in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter worth approximately $32,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter worth approximately $33,000. Finally, First Command Advisory Services Inc. lifted its position in Taiwan Semiconductor Manufacturing by 174.1% during the second quarter. First Command Advisory Services Inc. now owns 159 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 101 shares during the last quarter. Institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Company Profile

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.