Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 3.4% on Better-Than-Expected Earnings

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report) traded up 3.4% on Thursday following a stronger than expected earnings report. The stock traded as high as $247.87 and last traded at $245.69. 12,966,008 shares were traded during trading, a decline of 15% from the average session volume of 15,235,882 shares. The stock had previously closed at $237.56.

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 return on equity of 31.43% and a net margin of 41.67%. The company had revenue of $30.07 billion for the quarter, compared to analyst estimates of $28.50 billion. During the same period in the previous year, the company posted $1.48 EPS. The firm's revenue for the quarter was up 44.4% compared to the same quarter last year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be paid 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 1.08%. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 31.75%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Susquehanna set a $265.00 price objective on Taiwan Semiconductor Manufacturing and gave the company a "positive" rating in a research report on Monday. Needham & Company LLC reiterated a "buy" rating and set a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Finally, Barclays restated an "overweight" rating and issued a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $236.25.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors have recently bought and sold shares of the stock. Accredited Wealth Management LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $31,000. City Holding Co. boosted its holdings 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 acquiring an additional 119 shares during the period. 1248 Management LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter valued at about $28,000. Glass Jacobson Investment Advisors llc lifted its holdings in Taiwan Semiconductor Manufacturing by 289.4% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company's stock worth $36,000 after buying an additional 136 shares during the period. Finally, Nemes Rush Group LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 1,810.0% in the 4th quarter. Nemes Rush Group LLC now owns 191 shares of the semiconductor company's stock worth $38,000 after buying an additional 181 shares during the period. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Trading Down 2.1%

The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $211.45 and a two-hundred day simple moving average of $193.43. The firm has a market cap of $1.25 trillion, a PE ratio of 30.90, a PEG ratio of 1.28 and a beta of 1.29.

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.