Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 5.7% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price rose 5.7% during trading on Monday . The stock traded as high as $221.84 and last traded at $220.42. Approximately 10,977,088 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 10,341,899 shares. The stock had previously closed at $208.61.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TSM. Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Barclays raised their price target on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $214.00.

Taiwan Semiconductor Manufacturing Stock Down 1.9 %

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 firm’s 50 day moving average is $196.05 and its two-hundred day moving average is $182.61. The firm has a market capitalization of $1.08 trillion, a P/E ratio of 33.22, a PEG ratio of 0.93 and a beta of 1.07.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.20. The company had revenue of $23.50 billion for the quarter, compared to analyst estimates of $22.72 billion. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%. Research analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be issued a $0.5484 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is currently 35.10%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its holdings in Taiwan Semiconductor Manufacturing by 7.2% in the 3rd quarter. FMR LLC now owns 55,974,769 shares of the semiconductor company’s stock worth $9,721,138,000 after purchasing an additional 3,783,802 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 1.3% during the third quarter. Fisher Asset Management LLC now owns 28,767,106 shares of the semiconductor company’s stock worth $4,995,984,000 after acquiring an additional 359,854 shares during the last quarter. Van ECK Associates Corp raised its holdings in Taiwan Semiconductor Manufacturing by 0.7% during 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 during the last quarter. WCM Investment Management LLC raised 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 worth $1,733,104,000 after buying an additional 1,206,359 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Taiwan Semiconductor Manufacturing by 19.9% during the 3rd quarter. Janus Henderson Group PLC now owns 6,485,854 shares of the semiconductor company’s stock worth $1,126,420,000 after acquiring an additional 1,075,425 shares during the period. 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.