Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 0.5% - Here's What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report)'s share price rose 0.5% on Wednesday . The stock traded as high as $194.14 and last traded at $194.34. Approximately 1,954,010 shares traded hands during trading, a decline of 89% from the average daily volume of 17,361,305 shares. The stock had previously closed at $193.45.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, April 17th. Susquehanna reiterated a "positive" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, April 25th. Barclays restated a "hold" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, April 25th. Finally, StockNews.com downgraded shares of Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Taiwan Semiconductor Manufacturing presently has an average rating of "Moderate Buy" and a consensus price target of $212.00.

Taiwan Semiconductor Manufacturing Stock Up 0.6%

The firm's fifty day moving average price is $168.19 and its 200-day moving average price is $187.42. 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 cap of $1.01 trillion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 0.66 and a beta of 1.21.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced 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 net margin of 40.51% and a return on equity of 30.47%. The firm had revenue of $25.82 billion for the quarter, compared to analyst estimates of $834.10 billion. Sell-side analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently declared 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 1.34%. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 27.76%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of large investors have recently made changes to their positions in TSM. Tallon Kerry Patrick acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth about $228,000. Gilman Hill Asset Management LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 3.3% in the 4th quarter. Gilman Hill Asset Management LLC now owns 1,614 shares of the semiconductor company's stock valued at $319,000 after purchasing an additional 52 shares in the last quarter. Diversify Wealth Management LLC boosted its position in shares of Taiwan Semiconductor Manufacturing by 67.5% in the fourth quarter. Diversify Wealth Management LLC now owns 11,817 shares of the semiconductor company's stock worth $2,462,000 after acquiring an additional 4,763 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in Taiwan Semiconductor Manufacturing by 2.3% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,469 shares of the semiconductor company's stock valued at $488,000 after buying an additional 55 shares during the period. Finally, LaFleur & Godfrey LLC acquired a new position in Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $221,000. 16.51% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.