Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 2.7% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price shot up 2.7% during trading on Friday . The company traded as high as $198.17 and last traded at $195.69. 5,393,831 shares were traded during mid-day trading, a decline of 65% from the average session volume of 15,498,651 shares. The stock had previously closed at $190.54.

Analyst Ratings Changes

A number of research firms recently issued reports on TSM. Barclays boosted their price objective on Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. TD Cowen increased their price target on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Susquehanna restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and an average target price of $209.00.

Taiwan Semiconductor Manufacturing Trading Up 2.9 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.21 and a current ratio of 2.57. The firm has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 31.36, a PEG ratio of 0.94 and a beta of 1.14. The company has a 50-day moving average price of $180.02 and a 200-day moving average price of $167.52.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a $0.4871 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 31.09%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of large investors have recently bought and sold shares of TSM. Defender Capital LLC. raised its position in Taiwan Semiconductor Manufacturing by 3.7% in the third quarter. Defender Capital LLC. now owns 1,565 shares of the semiconductor company’s stock valued at $272,000 after purchasing an additional 56 shares during the period. Seed Wealth Management Inc. raised its holdings in shares of Taiwan Semiconductor Manufacturing by 1.3% during the second quarter. Seed Wealth Management Inc. now owns 4,558 shares of the semiconductor company’s stock valued at $792,000 after buying an additional 57 shares during the last quarter. Keudell Morrison Wealth Management raised its holdings in Taiwan Semiconductor Manufacturing by 1.5% during the second quarter. Keudell Morrison Wealth Management now owns 4,027 shares of the semiconductor company’s stock worth $700,000 after purchasing an additional 59 shares in the last quarter. Heron Bay Capital Management raised its holdings in Taiwan Semiconductor Manufacturing by 1.0% during the second quarter. Heron Bay Capital Management now owns 5,710 shares of the semiconductor company’s stock worth $992,000 after purchasing an additional 59 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV grew its position in Taiwan Semiconductor Manufacturing by 0.4% in the third quarter. Azzad Asset Management Inc. ADV now owns 14,166 shares of the semiconductor company’s stock worth $2,460,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Company Profile

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.