Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 2.3% – Still a Buy?

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)’s share price was up 2.3% on Monday . The company traded as high as $302.62 and last traded at $301.4790. Approximately 15,382,236 shares were traded during trading, an increase of 8% from the average daily volume of 14,257,692 shares. The stock had previously closed at $294.72.

Analysts Set New Price Targets

Several research analysts have commented on TSM shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Taiwan Semiconductor Manufacturing in a report on Monday, December 1st. Itau BBA Securities started coverage on Taiwan Semiconductor Manufacturing in a research report on Tuesday, October 7th. They issued an “outperform” rating on the stock. Susquehanna lifted their price objective on Taiwan Semiconductor Manufacturing from $300.00 to $400.00 and gave the company a “positive” rating in a research note on Friday, October 10th. Sanford C. Bernstein upped their target price on Taiwan Semiconductor Manufacturing from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Sunday. Finally, Barclays raised their price target on Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $355.00.

Taiwan Semiconductor Manufacturing Price Performance

The company has a current ratio of 2.69, a quick ratio of 2.47 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.56 trillion, a PE ratio of 30.92, a PEG ratio of 1.01 and a beta of 1.31. The business has a fifty day moving average price of $291.84 and a 200-day moving average price of $253.39.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, October 16th. The semiconductor company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.33. The company had revenue of $32.36 billion during the quarter, compared to the consensus estimate of $951.89 billion. Taiwan Semiconductor Manufacturing had a return on equity of 34.34% and a net margin of 43.72%.Taiwan Semiconductor Manufacturing’s quarterly revenue was up 40.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 EPS. Research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 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 9th. Stockholders of record on Tuesday, March 17th will be paid a $0.9678 dividend. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $3.87 dividend on an annualized basis and a dividend yield of 1.3%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 26.67%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Several hedge funds have recently added to or reduced their stakes in the business. 1248 Management LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 1st quarter valued at about $28,000. Heartwood Wealth Advisors LLC purchased a new position in Taiwan Semiconductor Manufacturing in the 3rd quarter worth approximately $32,000. Resources Management Corp CT ADV bought a new stake in Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $32,000. Mid American Wealth Advisory Group Inc. bought a new stake in Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $33,000. Finally, First Command Advisory Services Inc. boosted its stake in shares of Taiwan Semiconductor Manufacturing by 174.1% during the second quarter. First Command Advisory Services Inc. now owns 159 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 101 shares during the period. 16.51% of the stock is owned by institutional investors.

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.