Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading 2.3% Higher – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock price shot up 2.3% during trading on Tuesday . The company traded as high as $216.50 and last traded at $216.46. 6,961,154 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 17,331,332 shares. The stock had previously closed at $211.50.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Susquehanna restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Needham & Company LLC restated a “buy” rating and issued a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, January 16th. StockNews.com raised shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Barclays boosted their price objective on shares of Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing currently has an average rating of “Moderate Buy” and an average price target of $220.00.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 0.71 and a beta of 1.07. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.24. The stock has a 50-day simple moving average of $198.37 and a 200-day simple moving average of $184.73.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. On average, analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 8.98 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Tuesday, March 18th will be issued a $0.5484 dividend. 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 1.00%. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 31.11%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Large investors have recently made changes to their positions in the company. FMR LLC grew its holdings in Taiwan Semiconductor Manufacturing by 7.2% during the third quarter. FMR LLC now owns 55,974,769 shares of the semiconductor company’s stock worth $9,721,138,000 after acquiring an additional 3,783,802 shares during the period. Fisher Asset Management LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 1.3% in the 3rd quarter. Fisher Asset Management LLC now owns 28,767,106 shares of the semiconductor company’s stock worth $4,995,984,000 after purchasing an additional 359,854 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Taiwan Semiconductor Manufacturing by 0.7% in the 3rd quarter. Van ECK Associates Corp now owns 18,289,993 shares of the semiconductor company’s stock worth $3,176,423,000 after purchasing an additional 122,828 shares in the last quarter. WCM Investment Management LLC lifted its stake in Taiwan Semiconductor Manufacturing by 14.1% during the third quarter. WCM Investment Management LLC now owns 9,738,181 shares of the semiconductor company’s stock valued at $1,733,104,000 after purchasing an additional 1,206,359 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Taiwan Semiconductor Manufacturing by 19.9% during the third quarter. Janus Henderson Group PLC now owns 6,485,854 shares of the semiconductor company’s stock worth $1,126,420,000 after buying an additional 1,075,425 shares in the last quarter. Institutional investors and hedge funds 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.