Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 12.6% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock price was up 12.6% on Thursday . The stock traded as high as $211.50 and last traded at $211.07. Approximately 28,916,756 shares were traded during trading, an increase of 87% from the average daily volume of 15,438,126 shares. The stock had previously closed at $187.48.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Cowen lifted their price target on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Susquehanna reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday. Finally, Needham & Company LLC reissued a “buy” rating and set a $210.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.00.

Taiwan Semiconductor Manufacturing Trading Down 2.5 %

The stock has a 50-day simple moving average of $175.31 and a two-hundred day simple moving average of $164.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.47. The firm has a market cap of $1.04 trillion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.14.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.11. Taiwan Semiconductor Manufacturing had a net margin of 37.85% and a return on equity of 25.54%. The firm had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.33 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The firm’s quarterly revenue was up 34.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.4871 per share. This represents a $1.95 annualized dividend and a dividend yield of 0.97%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, December 12th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 36.95%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Hedge funds have recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter valued at about $25,000. Olistico Wealth LLC bought a new stake in Taiwan Semiconductor Manufacturing during the second quarter valued at approximately $27,000. Valley Wealth Managers Inc. purchased a new stake in Taiwan Semiconductor Manufacturing during the second quarter valued at approximately $27,000. North Star Investment Management Corp. raised its position in Taiwan Semiconductor Manufacturing by 670.4% in the first quarter. North Star Investment Management Corp. now owns 208 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 181 shares during the period. Finally, NewSquare Capital LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter worth $29,000. Hedge funds and other institutional investors 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.