Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 2.1% - Should You Buy?

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report) shares were up 2.1% during mid-day trading on Wednesday . The stock traded as high as $217.40 and last traded at $216.97. Approximately 4,633,693 shares traded hands during trading, a decline of 71% from the average daily volume of 15,737,490 shares. The stock had previously closed at $212.46.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TSM shares. Susquehanna reissued a "positive" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, April 25th. 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 note on Tuesday, June 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, April 17th. Finally, Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $217.00.

Taiwan Semiconductor Manufacturing Stock Up 0.6%

The firm's 50-day moving average price is $177.44 and its 200-day moving average price is $188.32. The company has a market cap of $1.12 trillion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 0.66 and a beta of 1.27. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. The company had revenue of $25.82 billion during the quarter, compared to analyst estimates of $834.10 billion. Sell-side analysts forecast that Taiwan Semiconductor Manufacturing Company Limited 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 issued a dividend of $0.6499 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is 30.46%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC acquired a new position in Taiwan Semiconductor Manufacturing during the 4th quarter worth $25,000. IMG Wealth Management Inc. acquired a new position in Taiwan Semiconductor Manufacturing during the 4th quarter worth $26,000. Hopwood Financial Services Inc. acquired a new position in Taiwan Semiconductor Manufacturing during the 4th quarter worth $27,000. City Holding Co. lifted its position in shares of Taiwan Semiconductor Manufacturing by 238.0% in the 1st quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock worth $28,000 after buying an additional 119 shares during the last quarter. Finally, 1248 Management LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the 1st quarter worth about $28,000. 16.51% of the stock is owned by institutional investors and hedge funds.

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.