Taiwan Semiconductor Manufacturing (NYSE:TSM) Sets New 12-Month High – Here’s Why

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) hit a new 52-week high during trading on Friday . The company traded as high as $315.94 and last traded at $317.8230, with a volume of 2007683 shares trading hands. The stock had previously closed at $303.89.

Wall Street Analyst Weigh In

TSM has been the subject of a number of research reports. Sanford C. Bernstein reissued an “outperform” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday. Needham & Company LLC restated a “buy” rating and set a $360.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Monday, October 27th. Citigroup reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 17th. Susquehanna upped their price target on shares of Taiwan Semiconductor Manufacturing from $300.00 to $400.00 and gave the company a “positive” rating in a research note on Friday, October 10th. Finally, Itau BBA Securities began coverage on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, October 7th. They issued an “outperform” rating for the company. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $355.00.

Taiwan Semiconductor Manufacturing Stock Up 4.8%

The stock has a 50-day simple moving average of $293.04 and a 200-day simple moving average of $265.20. The company has a quick ratio of 2.47, a current ratio of 2.69 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.65 trillion, a PE ratio of 32.63, a P/E/G ratio of 1.04 and a beta of 1.29.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Friday, November 14th. The semiconductor company reported $14.32 earnings per share for the quarter. Taiwan Semiconductor Manufacturing had a net margin of 43.72% and a return on equity of 34.34%. Analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.9678 per share. This represents a $3.87 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 17th. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. Taiwan Semiconductor Manufacturing’s payout ratio is presently 25.85%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TSM. 1248 Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter valued at about $28,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the 3rd quarter worth $32,000. Resources Management Corp CT ADV purchased a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter worth approximately $32,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the second quarter valued at $33,000. Finally, First Command Advisory Services Inc. increased its holdings in shares of Taiwan Semiconductor Manufacturing by 174.1% in the 2nd 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. Hedge funds and other institutional investors own 16.51% of the company’s stock.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC’s service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.