Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Gap Up – Here’s Why

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $187.48, but opened at $205.35. Taiwan Semiconductor Manufacturing shares last traded at $207.21, with a volume of 10,645,164 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSM. Needham & Company LLC reissued a “buy” rating and set a $210.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday. Sanford C. Bernstein boosted their price target on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, June 20th. TD Cowen boosted their price target on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Finally, Susquehanna reaffirmed a “positive” rating and set a $250.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.00.

Taiwan Semiconductor Manufacturing Trading Up 12.0 %

The firm’s fifty day moving average is $173.82 and its two-hundred day moving average is $163.39. The firm has a market capitalization of $1.09 trillion, a PE ratio of 40.20, a PEG ratio of 1.13 and a beta of 1.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.47 and a quick ratio of 2.21.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, July 18th. The semiconductor company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. Taiwan Semiconductor Manufacturing had a net margin of 37.85% and a return on equity of 25.54%. The company had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.33 billion. During the same period in the prior year, the company posted $1.14 EPS. Taiwan Semiconductor Manufacturing’s revenue was up 34.6% compared to the same quarter last year. On average, equities analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be paid a $0.4871 dividend. This represents a $1.95 annualized dividend and a yield of 0.93%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, December 12th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 36.95%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Seed Wealth Management Inc. increased its stake in Taiwan Semiconductor Manufacturing by 1.3% in the 2nd quarter. Seed Wealth Management Inc. now owns 4,558 shares of the semiconductor company’s stock worth $792,000 after buying an additional 57 shares during the period. Keudell Morrison Wealth Management boosted its holdings in Taiwan Semiconductor Manufacturing by 1.5% during the second quarter. Keudell Morrison Wealth Management now owns 4,027 shares of the semiconductor company’s stock worth $700,000 after buying an additional 59 shares in the last quarter. Heron Bay Capital Management raised its stake in shares of Taiwan Semiconductor Manufacturing by 1.0% during the 2nd quarter. Heron Bay Capital Management now owns 5,710 shares of the semiconductor company’s stock worth $992,000 after buying an additional 59 shares during the period. Azzad Asset Management Inc. ADV raised its holdings in Taiwan Semiconductor Manufacturing by 0.4% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 14,166 shares of the semiconductor company’s stock valued at $2,460,000 after acquiring an additional 63 shares during the last quarter. Finally, Foster Group Inc. increased its stake in shares of Taiwan Semiconductor Manufacturing by 1.5% in the 3rd quarter. Foster Group Inc. now owns 4,382 shares of the semiconductor company’s stock worth $761,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other 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.