Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 2.7% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock price was up 2.7% during mid-day trading on Friday . The company traded as high as $186.66 and last traded at $186.07. Approximately 4,147,648 shares traded hands during trading, a decline of 73% from the average daily volume of 15,245,352 shares. The stock had previously closed at $181.19.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TSM shares. Barclays boosted their target price on Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, October 17th. StockNews.com downgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Finally, Susquehanna reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 18th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $214.00.

Taiwan Semiconductor Manufacturing Stock Up 1.9 %

The stock has a 50-day moving average of $189.16 and a 200 day moving average of $175.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30. The company has a market cap of $957.72 billion, a P/E ratio of 29.59, a PEG ratio of 0.84 and a beta of 1.12.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%. The firm had revenue of $23.50 billion during the quarter, compared to analysts’ expectations of $22.72 billion. Research analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 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 Thursday, April 10th. Investors of record on Tuesday, March 18th will be issued a dividend of $0.5484 per share. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.19 annualized dividend and a dividend yield of 1.19%. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 31.09%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Large investors have recently bought and sold shares of the company. Old North State Trust LLC raised its holdings in Taiwan Semiconductor Manufacturing by 3.6% in the 3rd quarter. Old North State Trust LLC now owns 4,705 shares of the semiconductor company’s stock valued at $817,000 after buying an additional 164 shares during the last quarter. Franklin Resources Inc. increased its position in Taiwan Semiconductor Manufacturing by 13.2% in the 3rd quarter. Franklin Resources Inc. now owns 6,423,734 shares of the semiconductor company’s stock valued at $1,234,706,000 after acquiring an additional 750,515 shares during the period. Peapack Gladstone Financial Corp raised its stake in shares of Taiwan Semiconductor Manufacturing by 5.5% during the third quarter. Peapack Gladstone Financial Corp now owns 23,353 shares of the semiconductor company’s stock valued at $4,055,000 after acquiring an additional 1,207 shares during the last quarter. Synovus Financial Corp lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 299.8% during the third quarter. Synovus Financial Corp now owns 30,955 shares of the semiconductor company’s stock worth $5,376,000 after purchasing an additional 23,213 shares during the period. Finally, Arvest Bank Trust Division bought a new stake in shares of Taiwan Semiconductor Manufacturing in the third quarter worth $345,000. 16.51% of the stock is currently owned by institutional investors.

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.