Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading 3.3% Higher Following Analyst Upgrade

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) rose 3.3% during mid-day trading on Tuesday after Needham & Company LLC raised their price target on the stock from $225.00 to $270.00. Needham & Company LLC currently has a buy rating on the stock. Taiwan Semiconductor Manufacturing traded as high as $236.20 and last traded at $236.24. Approximately 6,174,262 shares were traded during trading, a decline of 59% from the average daily volume of 15,218,727 shares. The stock had previously closed at $228.67.

Several other brokerages also recently commented on TSM. Susquehanna lifted their target price on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a “positive” rating in a report on Tuesday, June 17th. Barclays restated an “overweight” rating and set a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Finally, Citigroup reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $236.25.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FMR LLC raised its stake in shares of Taiwan Semiconductor Manufacturing by 4.6% during the fourth quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company’s stock valued at $11,562,498,000 after acquiring an additional 2,572,488 shares during the last quarter. Sanders Capital LLC increased its holdings in Taiwan Semiconductor Manufacturing by 0.6% in the fourth quarter. Sanders Capital LLC now owns 41,877,457 shares of the semiconductor company’s stock valued at $8,270,379,000 after purchasing an additional 231,310 shares during the period. Capital World Investors increased its holdings in Taiwan Semiconductor Manufacturing by 0.8% in the fourth quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company’s stock valued at $7,031,632,000 after purchasing an additional 294,316 shares during the period. Capital International Investors raised its position in Taiwan Semiconductor Manufacturing by 8.2% during the 4th quarter. Capital International Investors now owns 22,210,222 shares of the semiconductor company’s stock worth $4,391,957,000 after purchasing an additional 1,683,256 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Taiwan Semiconductor Manufacturing by 55.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company’s stock worth $2,872,814,000 after buying an additional 6,180,445 shares during the period. 16.51% of the stock is currently owned by institutional investors.

Taiwan Semiconductor Manufacturing Price Performance

The stock has a market cap of $1.23 trillion, a P/E ratio of 30.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.29. The business has a 50-day simple moving average of $208.79 and a 200 day simple moving average of $192.81. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.09. The firm had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. On average, analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be issued a $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a yield of 1.10%. Taiwan Semiconductor Manufacturing’s payout ratio is currently 33.42%.

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.