Needham & Company LLC Issues Positive Forecast for Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price

Taiwan Semiconductor Manufacturing (NYSE:TSM) had its price target increased by Needham & Company LLC from $480.00 to $530.00 in a report published on Monday, MarketBeat.com reports. The firm currently has a buy rating on the semiconductor company’s stock.

Other equities research analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. DA Davidson upped their price objective on shares of Taiwan Semiconductor Manufacturing from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Weiss Ratings lowered Taiwan Semiconductor Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, July 13th. Susquehanna lifted their target price on Taiwan Semiconductor Manufacturing from $575.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, July 16th. Finally, TD Cowen boosted their target price on Taiwan Semiconductor Manufacturing from $400.00 to $440.00 and gave the company a “hold” rating in a report on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $496.25.

Taiwan Semiconductor Manufacturing Stock Down 0.9%

TSM stock opened at $399.94 on Monday. The company has a current ratio of 2.49, a quick ratio of 2.31 and a debt-to-equity ratio of 0.16. Taiwan Semiconductor Manufacturing has a twelve month low of $223.70 and a twelve month high of $479.00. The company’s 50 day moving average is $427.75 and its two-hundred day moving average is $382.65. The stock has a market cap of $2.07 trillion, a P/E ratio of 28.86, a PEG ratio of 0.93 and a beta of 1.36.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings data on Tuesday, June 30th. The semiconductor company reported $4.28 earnings per share for the quarter. Taiwan Semiconductor Manufacturing had a net margin of 50.31% and a return on equity of 40.88%. The business had revenue of $39.89 billion during the quarter. Research analysts expect that Taiwan Semiconductor Manufacturing will post 16.34 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 16th will be issued a dividend of $1.1136 per share. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.95. This represents a $4.45 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 16th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 21.43%.

Insider Buying and Selling

In related news, VP Bor-Zen Tien purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of $69.91 per share, for a total transaction of $139,820.00. Following the transaction, the vice president directly owned 11,051 shares of the company’s stock, valued at approximately $772,575.41. The trade was a 22.10% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Tzu-Sou Chuang sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $69.83, for a total value of $13,966,000.00. Following the sale, the vice president directly owned 2,495,165 shares of the company’s stock, valued at approximately $174,237,371.95. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have purchased a total of 6,857 shares of company stock valued at $512,334 over the last quarter. 1.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TSM. Intergy Private Wealth LLC grew its position in Taiwan Semiconductor Manufacturing by 5.4% in the 2nd quarter. Intergy Private Wealth LLC now owns 2,155 shares of the semiconductor company’s stock valued at $1,029,000 after buying an additional 111 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in Taiwan Semiconductor Manufacturing by 1.7% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 5,149 shares of the semiconductor company’s stock valued at $2,459,000 after buying an additional 88 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC raised its position in Taiwan Semiconductor Manufacturing by 1.1% during the 2nd quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 134,811 shares of the semiconductor company’s stock worth $64,382,000 after buying an additional 1,433 shares during the last quarter. Sulzberger Capital Advisors Inc. raised its position in Taiwan Semiconductor Manufacturing by 4.3% during the 2nd quarter. Sulzberger Capital Advisors Inc. now owns 1,936 shares of the semiconductor company’s stock worth $925,000 after buying an additional 80 shares during the last quarter. Finally, Pachira Investments Inc. acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter worth $290,000. Institutional investors and hedge funds own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Company Profile

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC’s service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.