Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 2.1% – Should You Buy?

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price shot up 2.1% during trading on Wednesday . The company traded as high as $205.24 and last traded at $204.89. 4,309,026 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 15,081,500 shares. The stock had previously closed at $200.66.

Analysts Set New Price Targets

TSM has been the subject of several recent analyst reports. Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, October 17th. Barclays increased their price target on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, StockNews.com downgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and a consensus target price of $214.00.

Taiwan Semiconductor Manufacturing Stock Performance

The firm has a 50 day moving average price of $193.68 and a 200-day moving average price of $178.98. 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 company has a market cap of $1.05 trillion, a P/E ratio of 32.34, a P/E/G ratio of 0.93 and a beta of 1.09.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, October 17th. The semiconductor company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.74 by $0.20. The company had revenue of $23.50 billion for the quarter, compared to the consensus estimate of $22.72 billion. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%. On average, research analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 EPS for the current 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 given a $0.5484 dividend. This represents a $2.19 annualized dividend and a dividend yield of 1.09%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Tuesday, March 18th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 35.10%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its stake in Taiwan Semiconductor Manufacturing by 7.2% during the third quarter. FMR LLC now owns 55,974,769 shares of the semiconductor company’s stock worth $9,721,138,000 after buying an additional 3,783,802 shares during the last quarter. Fisher Asset Management LLC grew its position in Taiwan Semiconductor Manufacturing by 1.3% during the 3rd quarter. Fisher Asset Management LLC now owns 28,767,106 shares of the semiconductor company’s stock worth $4,995,984,000 after acquiring an additional 359,854 shares during the last quarter. Van ECK Associates Corp increased its holdings in Taiwan Semiconductor Manufacturing by 0.7% during the 3rd quarter. Van ECK Associates Corp now owns 18,289,993 shares of the semiconductor company’s stock valued at $3,176,423,000 after purchasing an additional 122,828 shares in the last quarter. WCM Investment Management LLC increased its holdings in Taiwan Semiconductor Manufacturing by 14.1% during the 3rd quarter. WCM Investment Management LLC now owns 9,738,181 shares of the semiconductor company’s stock valued at $1,733,104,000 after purchasing an additional 1,206,359 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Taiwan Semiconductor Manufacturing by 19.9% in the third quarter. Janus Henderson Group PLC now owns 6,485,854 shares of the semiconductor company’s stock worth $1,126,420,000 after purchasing an additional 1,075,425 shares in the last quarter. Institutional investors and hedge funds 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.