Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading 2.3% Higher – Should You Buy?

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)’s share price traded up 2.3% during mid-day trading on Wednesday . The stock traded as high as $313.98 and last traded at $310.38. 12,321,817 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 14,250,549 shares. The stock had previously closed at $303.41.

Analysts Set New Price Targets

Several brokerages recently commented on TSM. Itau BBA Securities started coverage on Taiwan Semiconductor Manufacturing in a report on Tuesday, October 7th. They set an “outperform” rating on the stock. UBS Group set a $330.00 price target on Taiwan Semiconductor Manufacturing in a research report on Sunday. Needham & Company LLC reissued a “buy” rating and issued a $360.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Monday. Finally, Barclays lifted their target price on Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $355.00.

Taiwan Semiconductor Manufacturing Stock Up 2.3%

The company has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 1.04 and a beta of 1.31. The company has a quick ratio of 2.47, a current ratio of 2.69 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $292.89 and a 200-day moving average price of $254.92.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly 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 firm had revenue of $32.36 billion for the quarter, compared to analysts’ expectations 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 revenue was up 40.1% on a year-over-year basis. During the same quarter last year, the business posted $1.94 EPS. As a group, equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.9678 per share. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. This represents a $3.87 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, March 17th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 26.67%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in Taiwan Semiconductor Manufacturing during the first quarter valued at $28,000. Heartwood Wealth Advisors LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the third quarter worth approximately $32,000. Resources Management Corp CT ADV purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the second quarter worth approximately $32,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter worth approximately $33,000. Finally, First Command Advisory Services Inc. boosted its holdings 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 worth $36,000 after purchasing an additional 101 shares during the period. 16.51% of the stock is currently owned by hedge funds and other 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.