Taiwan Semiconductor Manufacturing’s (TSM) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) in a report released on Thursday, MarketBeat reports. Needham & Company LLC currently has a $270.00 price target on the semiconductor company’s stock.

Several other research analysts also recently commented on the stock. Citigroup reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Barclays reissued an “overweight” rating and issued a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Finally, Susquehanna set a $265.00 price target on shares of Taiwan Semiconductor Manufacturing and gave the company a “positive” rating in a report on Monday, July 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.33.

Taiwan Semiconductor Manufacturing Stock Down 2.1%

TSM opened at $240.40 on Thursday. The company has a 50 day moving average of $212.72 and a 200 day moving average of $193.70. The company has a market cap of $1.25 trillion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. Taiwan Semiconductor Manufacturing has a 12 month low of $133.57 and a 12 month high of $248.28. 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 released its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.13 by $0.34. The company had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 34.53%. Taiwan Semiconductor Manufacturing’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same period last year, the firm earned $1.48 EPS. On average, sell-side analysts expect that Taiwan Semiconductor Manufacturing will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.6499 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 28.16%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Large investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale raised its position in Taiwan Semiconductor Manufacturing by 0.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,339,479 shares of the semiconductor company’s stock worth $214,442,000 after purchasing an additional 11,693 shares during the period. Guardian Partners Inc. purchased a new position in Taiwan Semiconductor Manufacturing in the 4th quarter worth $9,222,000. Pinnacle Investment Management Ltd purchased a new position in Taiwan Semiconductor Manufacturing in the 4th quarter worth $26,661,000. Sentry LLC purchased a new position in Taiwan Semiconductor Manufacturing in the 1st quarter worth $222,000. Finally, Compound Global Advisors LLC raised its position in Taiwan Semiconductor Manufacturing by 31.2% in the 1st quarter. Compound Global Advisors LLC now owns 4,796 shares of the semiconductor company’s stock worth $747,000 after purchasing an additional 1,141 shares during the period. 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.