Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 1.3% - What's Next?

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report) rose 1.3% during mid-day trading on Wednesday . The stock traded as high as $232.34 and last traded at $230.84. Approximately 3,405,719 shares changed hands during trading, a decline of 78% from the average daily volume of 15,358,179 shares. The stock had previously closed at $227.86.

Wall Street Analyst Weigh In

TSM has been the topic of several analyst reports. Barclays reaffirmed an "overweight" rating and set a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Needham & Company LLC increased their price objective on shares of Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Finally, Susquehanna increased their price objective on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a "positive" rating in a research report on Tuesday, June 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $233.75.

Taiwan Semiconductor Manufacturing Trading Up 1.8%

The firm has a market capitalization of $1.20 trillion, a P/E ratio of 29.80, a price-to-earnings-growth ratio of 1.19 and a beta of 1.29. The business's 50-day moving average is $202.98 and its 200 day moving average is $191.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 2.18.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a net margin of 41.67% and a return on equity of 31.43%. The business had revenue of $25.82 billion for the quarter, compared to analyst estimates of $834.10 billion. As a group, analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently declared 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 dividend yield of 1.12%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 33.42%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds have recently added to or reduced their stakes in the business. IMG Wealth Management Inc. bought a new position in Taiwan Semiconductor Manufacturing during the fourth quarter worth $26,000. Hopwood Financial Services Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing during the fourth quarter valued at about $27,000. City Holding Co. raised its holdings in shares of Taiwan Semiconductor Manufacturing by 238.0% during the first quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 119 shares during the period. 1248 Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the first quarter valued at about $28,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the fourth quarter valued at about $31,000. 16.51% of the stock is currently owned by institutional investors and hedge funds.

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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