Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 2.1% – Here’s Why

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares shot up 2.1% on Wednesday . The company traded as high as $224.08 and last traded at $223.27. 8,184,542 shares changed hands during trading, a decline of 54% from the average session volume of 17,606,820 shares. The stock had previously closed at $218.70.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TSM shares. StockNews.com upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, January 16th. Barclays lifted 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, January 17th. Finally, Susquehanna reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $220.00.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a market cap of $1.17 trillion, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 0.70 and a beta of 1.07. The company’s 50-day simple moving average is $198.90 and its 200-day simple moving average is $184.97. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its earnings results on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. Analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 9.12 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.5484 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $2.19 dividend on an annualized basis and a yield of 0.98%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 27.27%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSM. Accel Wealth Management lifted its position in shares of Taiwan Semiconductor Manufacturing by 2.5% in the fourth quarter. Accel Wealth Management now owns 2,037 shares of the semiconductor company’s stock worth $402,000 after purchasing an additional 49 shares in the last quarter. FWG Holdings LLC increased its stake in Taiwan Semiconductor Manufacturing by 1.6% in the 3rd quarter. FWG Holdings LLC now owns 3,106 shares of the semiconductor company’s stock valued at $539,000 after buying an additional 50 shares during the period. Elmwood Wealth Management Inc. lifted its position in Taiwan Semiconductor Manufacturing by 3.7% in the 4th quarter. Elmwood Wealth Management Inc. now owns 1,405 shares of the semiconductor company’s stock worth $277,000 after buying an additional 50 shares in the last quarter. Gilman Hill Asset Management LLC boosted its stake in shares of Taiwan Semiconductor Manufacturing by 3.3% during the 4th quarter. Gilman Hill Asset Management LLC now owns 1,614 shares of the semiconductor company’s stock valued at $319,000 after buying an additional 52 shares during the period. Finally, Traynor Capital Management Inc. grew its holdings in shares of Taiwan Semiconductor Manufacturing by 3.4% during the 4th quarter. Traynor Capital Management Inc. now owns 1,566 shares of the semiconductor company’s stock valued at $309,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 16.51% of the company’s stock.

About Taiwan Semiconductor Manufacturing

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.