Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 2.8% – Here’s Why

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) were up 2.8% during mid-day trading on Monday . The company traded as high as $349.40 and last traded at $348.5060. Approximately 18,669,665 shares were traded during mid-day trading, an increase of 32% from the average daily volume of 14,124,307 shares. The stock had previously closed at $338.89.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TSM shares. Zacks Research upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. TD Cowen increased their target price on Taiwan Semiconductor Manufacturing from $325.00 to $370.00 and gave the stock a “hold” rating in a research report on Friday, January 16th. Needham & Company LLC boosted their target price on Taiwan Semiconductor Manufacturing from $360.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Argus raised shares of Taiwan Semiconductor Manufacturing to a “strong-buy” rating in a research note on Thursday, January 15th. Finally, UBS Group set a $330.00 price objective on Taiwan Semiconductor Manufacturing in a research note on Sunday, December 7th. Four research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $391.43.

Taiwan Semiconductor Manufacturing Stock Up 2.8%

The company has a debt-to-equity ratio of 0.17, a current ratio of 2.62 and a quick ratio of 2.42. The firm’s 50-day moving average price is $343.05 and its 200 day moving average price is $302.58. The firm has a market cap of $1.81 trillion, a P/E ratio of 32.72, a PEG ratio of 0.95 and a beta of 1.29.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings results on Thursday, February 26th. The semiconductor company reported $3.11 earnings per share for the quarter. The business had revenue of $30.65 billion during the quarter. Taiwan Semiconductor Manufacturing had a return on equity of 34.89% and a net margin of 45.13%. On average, equities research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 11th will be issued a $0.9503 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $3.80 annualized dividend and a dividend yield of 1.1%. Taiwan Semiconductor Manufacturing’s payout ratio is 23.57%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fisher Asset Management LLC grew its stake in Taiwan Semiconductor Manufacturing by 1.8% during the 4th quarter. Fisher Asset Management LLC now owns 18,146,900 shares of the semiconductor company’s stock worth $5,514,662,000 after buying an additional 313,773 shares during the last quarter. Van ECK Associates Corp lifted its stake in Taiwan Semiconductor Manufacturing by 11.1% in the fourth quarter. Van ECK Associates Corp now owns 17,464,962 shares of the semiconductor company’s stock valued at $5,307,428,000 after buying an additional 1,750,824 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 6.5% during the fourth quarter. Bank of America Corp DE now owns 15,902,819 shares of the semiconductor company’s stock valued at $4,832,708,000 after acquiring an additional 966,926 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Taiwan Semiconductor Manufacturing by 3.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 15,759,419 shares of the semiconductor company’s stock worth $4,401,448,000 after acquiring an additional 541,047 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing by 6.4% in the 4th quarter. Jennison Associates LLC now owns 13,394,299 shares of the semiconductor company’s stock worth $4,070,393,000 after acquiring an additional 802,757 shares during the period. 16.51% of the stock is currently owned by institutional investors and hedge funds.

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.