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

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report)'s share price shot up 1% on Friday . The stock traded as high as $205.62 and last traded at $205.38. 2,326,032 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 15,755,314 shares. The stock had previously closed at $203.34.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSM. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Susquehanna reiterated a "positive" rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, April 25th. Needham & Company LLC reiterated a "buy" rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Finally, Barclays reiterated an "overweight" rating and issued a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $217.00.

Taiwan Semiconductor Manufacturing Trading 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 company has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 29.13, a PEG ratio of 0.66 and a beta of 1.21. The company has a fifty day moving average of $174.27 and a 200-day moving average of $187.88.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. The business 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%. As a group, equities research 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 announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 dividend yield of 1.27%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 30.46%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tallon Kerry Patrick purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at approximately $228,000. LaFleur & Godfrey LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at approximately $221,000. Brighton Jones LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 20.9% during the 4th quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company's stock valued at $2,159,000 after buying an additional 1,892 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at approximately $91,830,000. Finally, Stratos Wealth Partners LTD. raised its position in shares of Taiwan Semiconductor Manufacturing by 57.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 27,190 shares of the semiconductor company's stock valued at $5,370,000 after buying an additional 9,888 shares during the period. 16.51% of the stock is currently 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.