Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 1.3% - Still a Buy?

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report)'s stock price traded up 1.3% on Wednesday . The company traded as high as $232.34 and last traded at $230.84. 3,405,719 shares traded hands 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.

Analyst Upgrades and Downgrades

TSM has been the subject of a number of research analyst reports. Needham & Company LLC lifted their price target on Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Susquehanna boosted their target price on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a "positive" rating in a research note on Tuesday, June 17th. Barclays reissued an "overweight" rating and set a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Finally, Citigroup restated 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $233.75.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a market capitalization of $1.19 trillion, a P/E ratio of 29.56, a PEG ratio of 1.25 and a beta of 1.29. The stock's 50-day simple moving average is $204.28 and its 200 day simple moving average is $192.16. 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 posted its quarterly earnings data 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 firm had revenue of $25.82 billion for the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. Research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be issued 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 1.13%. Taiwan Semiconductor Manufacturing's payout ratio is presently 31.75%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several institutional investors and hedge funds have recently made changes to their positions in TSM. New Vernon Capital Holdings II LLC grew its stake in 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. boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 55.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company's stock worth $2,872,814,000 after buying an additional 6,180,445 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Taiwan Semiconductor Manufacturing by 67.0% during the 4th 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 buying an additional 4,158,772 shares during the period. Nuveen LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 1st quarter valued at $482,676,000. Finally, FMR LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 4.6% during the 4th quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock valued at $11,562,498,000 after acquiring an additional 2,572,488 shares during the period. Institutional investors and hedge funds 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.