Taiwan Semiconductor Manufacturing (NYSE:TSM) Reaches New 12-Month High - Here's Why

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $237.71 and last traded at $236.96, with a volume of 14238990 shares. The stock had previously closed at $228.67.

Analyst Upgrades and Downgrades

TSM has been the subject of several research analyst reports. Barclays reissued an "overweight" rating and set a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Needham & Company LLC reissued a "buy" rating and set a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday. Finally, Susquehanna set a $265.00 price objective on Taiwan Semiconductor Manufacturing and gave the stock a "positive" rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $236.25.

Taiwan Semiconductor Manufacturing Stock Performance

The firm has a fifty day simple moving average of $211.45 and a 200 day simple moving average of $193.43. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.24 trillion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.28 and a beta of 1.29.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.13 by $0.34. The firm had revenue of $30.07 billion during the quarter, compared to analysts' expectations of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. The company's revenue for the quarter was up 44.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 EPS. As a group, sell-side analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders 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 1.09%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is 31.75%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several large investors have recently added to or reduced their stakes in TSM. Marino Stram & Associates LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 1.2% in the 2nd quarter. Marino Stram & Associates LLC now owns 5,817 shares of the semiconductor company's stock valued at $1,317,000 after purchasing an additional 70 shares during the period. Panoramic Capital Partners LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter valued at approximately $247,000. Victrix Investment Advisors grew its stake in shares of Taiwan Semiconductor Manufacturing by 22.6% in the 2nd quarter. Victrix Investment Advisors now owns 6,066 shares of the semiconductor company's stock valued at $1,374,000 after purchasing an additional 1,117 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. grew its stake in shares of Taiwan Semiconductor Manufacturing by 137.5% in the 2nd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 9,500 shares of the semiconductor company's stock valued at $2,152,000 after purchasing an additional 5,500 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. grew its stake in shares of Taiwan Semiconductor Manufacturing by 4.5% in the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 35,991 shares of the semiconductor company's stock valued at $8,152,000 after purchasing an additional 1,542 shares during the period. Institutional investors and hedge funds 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.