Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 1.3% - Here's Why

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

Analysts Set New Price Targets

TSM has been the subject of several analyst reports. Susquehanna raised their price target on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a "positive" rating in a report on Tuesday, June 17th. Needham & Company LLC raised their price target 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. 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 note on Tuesday, June 3rd. Finally, Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Taiwan Semiconductor Manufacturing presently has an average rating of "Moderate Buy" and an average price target of $233.75.

Taiwan Semiconductor Manufacturing Price Performance

The firm's 50-day moving average is $205.42 and its 200-day moving average is $192.32. The company has a market capitalization of $1.19 trillion, a P/E ratio of 29.61, a price-to-earnings-growth ratio of 1.25 and a beta of 1.29. 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 announced its 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. 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 31.43% and a net margin of 41.67%. Analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.6499 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.13%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 31.75%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several large investors have recently added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new stake in Taiwan Semiconductor Manufacturing in the 4th quarter worth $26,000. Hopwood Financial Services Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth about $27,000. City Holding Co. raised its stake in Taiwan Semiconductor Manufacturing by 238.0% during the 1st 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 purchased a new position in Taiwan Semiconductor Manufacturing in the 1st quarter worth approximately $28,000. Finally, Accredited Wealth Management LLC bought a new position in Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 16.51% of the company's stock.

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.