Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 3.1% After Analyst Upgrade

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report) shares shot up 3.1% on Wednesday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock traded as high as $203.90 and last traded at $203.80. 6,281,022 shares were traded during mid-day trading, a decline of 63% from the average session volume of 16,880,586 shares. The stock had previously closed at $197.61.

TSM has been the subject of several other research reports. Needham & Company LLC reiterated a "buy" rating and issued a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, January 16th. Barclays upped their target price on shares of Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, Susquehanna restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Taiwan Semiconductor Manufacturing has a consensus rating of "Moderate Buy" and a consensus target price of $217.00.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter valued at $26,000. Hopwood Financial Services Inc. acquired a new position in Taiwan Semiconductor Manufacturing during the fourth quarter worth $27,000. City Holding Co. raised its position in Taiwan Semiconductor Manufacturing by 238.0% during the first quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 119 shares in the last quarter. Finally, Roxbury Financial LLC acquired a new stake in Taiwan Semiconductor Manufacturing in the fourth quarter valued at $29,000. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Stock Up 0.9%

The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.24. The firm's 50 day moving average price is $174.27 and its two-hundred day moving average price is $187.88. The company has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 0.66 and a beta of 1.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. The firm had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $834.10 billion. Sell-side analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed 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 of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a dividend yield of 1.27%. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 30.46%.

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.