Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 1% - Here's What Happened

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report) rose 1% during trading on Wednesday . The stock traded as high as $223.50 and last traded at $222.32. Approximately 3,821,764 shares traded hands during trading, a decline of 75% from the average daily volume of 15,449,912 shares. The stock had previously closed at $220.09.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Susquehanna increased their target price on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a "positive" rating in a research note on Tuesday, June 17th. Needham & Company LLC reissued a "buy" rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, April 17th. Barclays restated an "overweight" rating and set a $240.00 target price (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Finally, Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Taiwan Semiconductor Manufacturing has a consensus rating of "Moderate Buy" and a consensus price target of $222.50.

Taiwan Semiconductor Manufacturing Stock Up 1.5%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.18 and a current ratio of 2.39. The company has a fifty day simple moving average of $188.59 and a two-hundred day simple moving average of $189.67. The firm has a market capitalization of $1.16 trillion, a PE ratio of 28.68, a PEG ratio of 1.09 and a beta of 1.27.

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 for the quarter, beating the consensus estimate 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 the consensus estimate of $834.10 billion. Analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.16%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is 30.59%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Large investors have recently bought and sold shares of the business. New Vernon Capital Holdings II LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 16,500.0% during the 1st 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 last quarter. Goldman Sachs Group Inc. raised its holdings in Taiwan Semiconductor Manufacturing by 55.6% in 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 valued at $2,047,065,000 after buying an additional 4,158,772 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter valued at about $482,676,000. Finally, FMR LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 4.6% in the 4th quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock valued at $11,562,498,000 after buying an additional 2,572,488 shares in the last quarter. Institutional investors 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.

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