Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 0.8% on Better-Than-Expected Earnings

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report) shot up 0.8% on Thursday following a stronger than expected earnings report. The stock traded as high as $157.50 and last traded at $152.94. 12,700,724 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 15,865,895 shares. The stock had previously closed at $151.67.

The semiconductor company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.09. The business had revenue of $25.82 billion for the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.6855 per share. This is a positive change from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.55. This represents a $2.74 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Thursday, June 12th. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 30.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TSM shares. Barclays lowered their target price on shares of Taiwan Semiconductor Manufacturing from $255.00 to $215.00 and set an "overweight" rating on the stock in a report on Monday. Susquehanna dropped their price objective on shares of Taiwan Semiconductor Manufacturing from $265.00 to $250.00 and set a "positive" rating for the company in a report on Thursday. Needham & Company LLC restated a "buy" rating and set a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday. Finally, StockNews.com lowered Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Taiwan Semiconductor Manufacturing currently has an average rating of "Moderate Buy" and a consensus target price of $212.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new position in Taiwan Semiconductor Manufacturing in the fourth quarter valued at about $25,000. IMG Wealth Management Inc. bought a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth approximately $26,000. Hopwood Financial Services Inc. bought a new position in Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $27,000. City Holding Co. raised its position in shares of 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 acquiring an additional 119 shares during the last quarter. Finally, Roxbury Financial LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth $29,000. 16.51% of the stock is currently owned by institutional investors.

Taiwan Semiconductor Manufacturing Stock Down 2.4 %

The stock has a market cap of $767.80 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 0.66 and a beta of 1.16. The firm has a 50 day simple moving average of $173.73 and a two-hundred day simple moving average of $190.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30.

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.