Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading 0.8% Higher Following Analyst Upgrade

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares shot up 0.8% on Tuesday after Barclays raised their price target on the stock from $215.00 to $240.00. Barclays currently has an overweight rating on the stock. Taiwan Semiconductor Manufacturing traded as high as $190.00 and last traded at $189.02. 2,447,006 shares were traded during trading, a decline of 84% from the average session volume of 15,351,876 shares. The stock had previously closed at $187.48.

TSM has been the subject of several other research reports. Needham & Company LLC restated a “buy” rating and set a $210.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, October 17th. Susquehanna reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Finally, StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $214.00.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several institutional investors have recently made changes to their positions in TSM. Atlantic Edge Private Wealth Management LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the 2nd quarter worth about $25,000. Reston Wealth Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the third quarter worth about $25,000. Olistico Wealth LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $27,000. Valley Wealth Managers Inc. purchased a new position in Taiwan Semiconductor Manufacturing during the second quarter valued at approximately $27,000. Finally, NewSquare Capital LLC bought a new stake in Taiwan Semiconductor Manufacturing during the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Stock Up 1.2 %

The company’s 50 day simple moving average is $186.82 and its 200-day simple moving average is $173.13. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.30 and a current ratio of 2.57. The firm has a market capitalization of $983.97 billion, a PE ratio of 30.40, a PEG ratio of 0.87 and a beta of 1.12.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings data on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%. The company had revenue of $23.50 billion for the quarter, compared to the consensus estimate of $22.72 billion. On average, analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.84 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.5484 per share. 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. This represents a $2.19 annualized dividend and a dividend yield of 1.16%. Taiwan Semiconductor Manufacturing’s payout ratio is presently 31.57%.

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.