Taiwan Semiconductor Manufacturing (NYSE:TSM) Sets New 52-Week High – Still a Buy?

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $353.20 and last traded at $357.0850, with a volume of 1398281 shares changing hands. The stock had previously closed at $348.85.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Monday, January 5th. Wall Street Zen raised shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Needham & Company LLC raised their price target on Taiwan Semiconductor Manufacturing from $360.00 to $410.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Barclays upped their price objective on Taiwan Semiconductor Manufacturing from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Finally, UBS Group set a $330.00 target price on Taiwan Semiconductor Manufacturing in a research report on Sunday, December 7th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $381.67.

Taiwan Semiconductor Manufacturing Trading Up 1.7%

The company has a market capitalization of $1.84 trillion, a P/E ratio of 33.33, a P/E/G ratio of 0.98 and a beta of 1.31. The stock has a 50 day moving average of $314.52 and a 200-day moving average of $284.76. The company has a current ratio of 2.69, a quick ratio of 2.47 and a debt-to-equity ratio of 0.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings results on Friday, November 14th. The semiconductor company reported $14.32 earnings per share for the quarter. The business had revenue of $32.50 billion during the quarter. Taiwan Semiconductor Manufacturing had a net margin of 45.13% and a return on equity of 36.18%. On average, research analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.9678 per share. This is a boost 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 1.1%. The ex-dividend date of this dividend is Tuesday, March 17th. Taiwan Semiconductor Manufacturing’s payout ratio is 23.57%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Several institutional investors have recently made changes to their positions in TSM. Stephens Consulting LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 82.0% during the 4th quarter. Stephens Consulting LLC now owns 91 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 41 shares during the last quarter. Ares Financial Consulting LLC bought a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at approximately $29,000. Heartwood Wealth Advisors LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing in the third quarter valued at $32,000. Resources Management Corp CT ADV bought a new stake in Taiwan Semiconductor Manufacturing in the second quarter worth $32,000. Finally, Mid American Wealth Advisory Group Inc. bought a new position in Taiwan Semiconductor Manufacturing during the second quarter valued at $33,000. 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.