Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 4.9% on Better-Than-Expected Earnings

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was up 4.9% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $221.95 and last traded at $216.87. Approximately 23,181,844 shares traded hands during trading, an increase of 41% from the average daily volume of 16,389,395 shares. The stock had previously closed at $206.80.

The semiconductor company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.44%.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Tuesday, March 18th will be given a $0.5484 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 1.01%. 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 30.77%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSM. StockNews.com downgraded Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday. Barclays raised their target price on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Taiwan Semiconductor Manufacturing has a consensus rating of “Moderate Buy” and an average target price of $217.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 7.2% in the third quarter. FMR LLC now owns 55,974,769 shares of the semiconductor company’s stock worth $9,721,138,000 after buying an additional 3,783,802 shares during the period. Clearbridge Investments LLC increased its holdings in Taiwan Semiconductor Manufacturing by 669.7% during the 2nd quarter. Clearbridge Investments LLC now owns 3,721,489 shares of the semiconductor company’s stock valued at $646,832,000 after purchasing an additional 3,237,998 shares during the period. 1832 Asset Management L.P. increased its position in Taiwan Semiconductor Manufacturing by 1,226.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,983,830 shares of the semiconductor company’s stock valued at $344,809,000 after purchasing an additional 1,834,298 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Taiwan Semiconductor Manufacturing by 799.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,899,088 shares of the semiconductor company’s stock valued at $329,815,000 after purchasing an additional 1,687,886 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Taiwan Semiconductor Manufacturing during the 3rd quarter valued at $229,098,000. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Price Performance

The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average is $197.26 and its 200-day moving average is $183.79. The company has a market cap of $1.13 trillion, a PE ratio of 34.92, a PEG ratio of 0.76 and a beta of 1.07.

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.