Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 1.5% - Here's What Happened

Key Points

• Shares of Taiwan Semiconductor Manufacturing Company (TSM) rose by 1.5%, trading between $245.13 and $246.12 during recent mid-day trading.
• Analysts have positive sentiments, with Barclays and Citigroup maintaining "buy" ratings and various price targets ranging from $240 to $270.
• The company has a strong quarterly earnings report, posting a $2.47 EPS which exceeded estimates, along with a significant revenue increase of 44.4% year-over-year.
• Taiwan Semiconductor announced a quarterly dividend of $0.6499 with a payout ratio of 29.65%, reflecting a 1.06% yield for investors.

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report)'s stock price was up 1.5% during mid-day trading on Friday . The stock traded as high as $246.12 and last traded at $245.13. Approximately 5,131,304 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 15,575,704 shares. The stock had previously closed at $241.60.

Analyst Upgrades and Downgrades

TSM has been the subject of a number of recent analyst reports. Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Susquehanna lifted their price objective on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research report on Monday, July 14th. Finally, Barclays reissued an "overweight" rating and issued a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.33.

Taiwan Semiconductor Manufacturing Stock Up 1.6%

The stock has a fifty day moving average price of $217.47 and a two-hundred day moving average price of $194.75. The company has a market cap of $1.27 trillion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 1.18 and a beta of 1.29. The company has a quick ratio of 2.18, a current ratio of 2.39 and a debt-to-equity ratio of 0.22.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 34.53%. The firm had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The business's revenue for the quarter was up 44.4% compared to the same quarter last year. As a group, sell-side analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.06%. Taiwan Semiconductor Manufacturing's payout ratio is 28.16%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TSM. City Holding Co. increased its stake in Taiwan Semiconductor Manufacturing by 238.0% in the first 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. 1248 Management LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the 1st quarter valued at $28,000. Accredited Wealth Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth $31,000. Signature Resources Capital Management LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 138.8% during the 1st quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock worth $32,000 after buying an additional 111 shares during the last quarter. Finally, Graybill Wealth Management LTD. acquired a new stake in Taiwan Semiconductor Manufacturing in the first quarter valued at about $33,000. Institutional investors and hedge funds 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.