Taiwan Semiconductor Manufacturing (NYSE:TSM) Reaches New 52-Week High - Here's Why

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $237.58 and last traded at $235.49, with a volume of 7779584 shares changing hands. The stock had previously closed at $233.60.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Susquehanna lifted their price target on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a "positive" rating in a research note on Tuesday, June 17th. Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Needham & Company LLC lifted their target price on shares of Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Barclays reiterated an "overweight" rating and set a $240.00 target price (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $233.75.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a 50 day moving average of $200.39 and a 200 day moving average of $191.44. The company has a quick ratio of 2.18, a current ratio of 2.39 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.22 trillion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 1.22 and a beta of 1.29.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The company had revenue of $25.82 billion for the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. As a group, analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be issued a $0.6499 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 annualized dividend and a yield of 1.10%. Taiwan Semiconductor Manufacturing's payout ratio is 30.59%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of TSM. McLean Asset Management Corp acquired a new position in Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $224,000. Trust Co of the South lifted its position in shares of Taiwan Semiconductor Manufacturing by 1.6% during the 2nd quarter. Trust Co of the South now owns 7,926 shares of the semiconductor company's stock valued at $1,795,000 after acquiring an additional 125 shares during the period. Fiduciary Financial Group LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 6.8% during the 2nd quarter. Fiduciary Financial Group LLC now owns 1,604 shares of the semiconductor company's stock valued at $360,000 after acquiring an additional 102 shares during the period. City Center Advisors LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter valued at $218,000. Finally, Michael S. Ryan Inc. raised its holdings in shares of Taiwan Semiconductor Manufacturing by 1.7% during the second quarter. Michael S. Ryan Inc. now owns 3,239 shares of the semiconductor company's stock valued at $734,000 after purchasing an additional 53 shares during the period. 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.