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

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report) shares shot up 3.1% during mid-day trading on Wednesday after Barclays raised their price target on the stock from $215.00 to $240.00. Barclays currently has an overweight rating on the stock. Taiwan Semiconductor Manufacturing traded as high as $203.90 and last traded at $203.80. 6,281,022 shares traded hands 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 a number of other reports. Needham & Company LLC reissued a "buy" rating and set a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, April 17th. Susquehanna reaffirmed a "positive" rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, April 25th. Finally, Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $217.00.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. New Vernon Capital Holdings II LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 16,500.0% in the first quarter. New Vernon Capital Holdings II LLC now owns 6,707,064 shares of the semiconductor company's stock valued at $1,113,373,000 after buying an additional 6,666,660 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Taiwan Semiconductor Manufacturing by 55.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company's stock valued at $2,872,814,000 after purchasing an additional 6,180,445 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Taiwan Semiconductor Manufacturing by 67.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock worth $2,047,065,000 after buying an additional 4,158,772 shares in the last quarter. Nuveen LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the first quarter worth $482,676,000. Finally, FMR LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 4.6% in the fourth quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock worth $11,562,498,000 after purchasing an additional 2,572,488 shares in the last quarter. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a market cap of $1.05 trillion, a P/E ratio of 28.88, a PEG ratio of 0.66 and a beta of 1.21. The company has a 50 day moving average price of $172.79 and a 200-day moving average price of $187.66. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24.

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

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently announced 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. This represents a $2.60 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is 30.46%.

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.