Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 6.2% on Analyst Upgrade

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSMGet Free Report)’s stock price was up 6.2% on Wednesday after Barclays raised their price target on the stock from $150.00 to $170.00. Barclays currently has an overweight rating on the stock. Taiwan Semiconductor Manufacturing traded as high as $163.12 and last traded at $161.90. Approximately 10,216,109 shares changed hands during trading, a decline of 31% from the average daily volume of 14,816,291 shares. The stock had previously closed at $152.47.

Other analysts also recently issued reports about the company. StockNews.com upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. TD Cowen boosted their target price on shares of Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the stock a “hold” rating in a report on Thursday, April 18th. Susquehanna boosted their target price on shares of Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, April 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $168.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Wednesday, May 22nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Get Our Latest Stock Report on TSM

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TSM. Johnson Financial Group Inc. acquired a new position in Taiwan Semiconductor Manufacturing in the 4th quarter valued at about $25,000. Financial Gravity Asset Management Inc. grew its position in Taiwan Semiconductor Manufacturing by 208.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 312 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 211 shares in the last quarter. LifeSteps Financial Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing during the first quarter worth about $27,000. North Star Investment Management Corp. grew its position in shares of Taiwan Semiconductor Manufacturing by 670.4% during the first quarter. North Star Investment Management Corp. now owns 208 shares of the semiconductor company’s stock worth $28,000 after buying an additional 181 shares in the last quarter. Finally, Sachetta LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Stock Performance

The firm has a market capitalization of $845.07 billion, a price-to-earnings ratio of 31.04, a P/E/G ratio of 1.11 and a beta of 1.11. The company has a quick ratio of 2.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $144.92 and a 200 day moving average price of $126.14.

Taiwan Semiconductor Manufacturing (NYSE:TSMGet Free Report) last posted its earnings results on Thursday, April 18th. The semiconductor company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.09. The firm had revenue of $18.87 billion during the quarter, compared to analysts’ expectations of $18.38 billion. Taiwan Semiconductor Manufacturing had a return on equity of 24.75% and a net margin of 38.15%. On average, analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.13 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Thursday, September 12th will be paid a $0.4865 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.95 dividend on an annualized basis and a yield of 1.19%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. Taiwan Semiconductor Manufacturing’s payout ratio is currently 32.76%.

About Taiwan Semiconductor Manufacturing

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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.

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