Taiwan Semiconductor Manufacturing (NYSE:TSM) Hits New 52-Week High - Here's What Happened

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report)'s stock price hit a new 52-week high during trading on Saturday . The company traded as high as $228.88 and last traded at $228.47, with a volume of 13120911 shares traded. The stock had previously closed at $224.01.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Susquehanna raised their price target on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a "positive" rating in a report on Tuesday, June 17th. Barclays restated an "overweight" rating and issued a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, April 17th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $222.50.

Taiwan Semiconductor Manufacturing Stock Up 2.0%

The business's fifty day simple moving average is $192.99 and its 200 day simple moving average is $190.32. The stock has a market cap of $1.18 trillion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 1.16 and a beta of 1.27. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced 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. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. The business had revenue of $25.82 billion during the quarter, compared to analysts' expectations of $834.10 billion. Equities analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be given a $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.14%. Taiwan Semiconductor Manufacturing's dividend payout ratio is 30.59%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Heritage Wealth Advisors boosted its position in shares of Taiwan Semiconductor Manufacturing by 20.0% during the fourth quarter. Heritage Wealth Advisors now owns 300 shares of the semiconductor company's stock worth $59,000 after purchasing an additional 50 shares in the last quarter. First Heartland Consultants Inc. raised its stake in Taiwan Semiconductor Manufacturing by 4.2% during the 4th quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company's stock worth $244,000 after buying an additional 50 shares during the period. Formidable Asset Management LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company's stock worth $317,000 after acquiring an additional 50 shares in the last quarter. Connecticut Wealth Management LLC grew its stake in Taiwan Semiconductor Manufacturing by 0.7% in the fourth quarter. Connecticut Wealth Management LLC now owns 7,416 shares of the semiconductor company's stock valued at $1,465,000 after acquiring an additional 55 shares during the period. Finally, Brown Shipley& Co Ltd increased its holdings in shares of Taiwan Semiconductor Manufacturing by 1.4% in the first quarter. Brown Shipley& Co Ltd now owns 3,926 shares of the semiconductor company's stock worth $652,000 after acquiring an additional 55 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.

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