Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 3.3% After Analyst Upgrade

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report)'s share price traded up 3.3% during trading on Tuesday after Needham & Company LLC raised their price target on the stock from $225.00 to $270.00. Needham & Company LLC currently has a buy rating on the stock. Taiwan Semiconductor Manufacturing traded as high as $236.20 and last traded at $236.24. 6,174,262 shares traded hands during trading, a decline of 59% from the average session volume of 15,218,727 shares. The stock had previously closed at $228.67.

Several other equities analysts also recently issued reports on TSM. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Barclays reiterated 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, Susquehanna boosted their target price on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a "positive" rating in a research report on Tuesday, June 17th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $236.25.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors and hedge funds have recently made changes to their positions in the company. New Vernon Capital Holdings II LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 16,500.0% during the first quarter. New Vernon Capital Holdings II LLC now owns 6,707,064 shares of the semiconductor company's stock worth $1,113,373,000 after purchasing an additional 6,666,660 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Taiwan Semiconductor Manufacturing by 55.6% during the first quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company's stock worth $2,872,814,000 after purchasing an additional 6,180,445 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Taiwan Semiconductor Manufacturing by 67.0% during the fourth 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 purchasing an additional 4,158,772 shares during the period. Nuveen LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter worth $482,676,000. Finally, FMR LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 4.6% during 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 during the period. Institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Trading Up 0.1%

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 2.18. The business has a 50 day moving average of $208.79 and a 200 day moving average of $192.81. The firm has a market capitalization of $1.23 trillion, a price-to-earnings ratio of 30.54, a PEG ratio of 1.24 and a beta of 1.29.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $25.82 billion during the quarter, compared to analysts' expectations of $834.10 billion. As a group, research analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be paid 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 yield of 1.10%. Taiwan Semiconductor Manufacturing's payout ratio is 33.42%.

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.