Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Gap Up After Earnings Beat

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $206.80, but opened at $218.89. Taiwan Semiconductor Manufacturing shares last traded at $216.13, with a volume of 12,944,739 shares.

The semiconductor company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be issued a $0.5484 dividend. This represents a $2.19 dividend on an annualized basis and a yield of 1.01%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Tuesday, March 18th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 30.77%.

Analyst Ratings Changes

A number of research firms have recently weighed in on TSM. Barclays boosted their price objective on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Taiwan Semiconductor Manufacturing has a consensus rating of “Moderate Buy” and a consensus target price of $217.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing in the 3rd quarter worth about $25,000. Fairscale Capital LLC acquired a new position in Taiwan Semiconductor Manufacturing during the second quarter valued at approximately $32,000. Sugarloaf Wealth Management LLC grew its stake in Taiwan Semiconductor Manufacturing by 77.1% during the third quarter. Sugarloaf Wealth Management LLC now owns 186 shares of the semiconductor company’s stock worth $32,000 after buying an additional 81 shares during the period. Archer Investment Corp raised its stake in shares of Taiwan Semiconductor Manufacturing by 48.1% in the 3rd quarter. Archer Investment Corp now owns 191 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 62 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 108.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 208 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 108 shares in the last quarter. Institutional investors and hedge funds own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Trading Up 5.3 %

The business’s 50-day moving average is $197.26 and its two-hundred day moving average is $183.79. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.13 trillion, a PE ratio of 34.91, a PEG ratio of 0.76 and a beta of 1.07.

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.