Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading 2.3% Higher – Time to Buy?

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was up 2.3% during mid-day trading on Tuesday . The company traded as high as $212.83 and last traded at $211.78. Approximately 5,298,543 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 15,732,522 shares. The stock had previously closed at $207.00.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSM. Barclays reaffirmed an “overweight” rating and issued a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Needham & Company LLC reissued a “buy” rating and issued a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Susquehanna reiterated a “positive” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, April 25th. Finally, Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.00.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $175.00 and its 200 day moving average price is $187.97. The stock has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth ratio of 0.66 and a beta of 1.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. The business had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $834.10 billion. Analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be issued a $0.6499 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s payout ratio is 30.46%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of TSM. WP Advisors LLC boosted its position in shares of Taiwan Semiconductor Manufacturing by 1.2% in the 4th quarter. WP Advisors LLC now owns 4,271 shares of the semiconductor company’s stock valued at $843,000 after purchasing an additional 50 shares during the period. Heritage Wealth Advisors grew its stake in shares of Taiwan Semiconductor Manufacturing by 20.0% in the 4th quarter. Heritage Wealth Advisors now owns 300 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 50 shares during the last quarter. First Heartland Consultants Inc. increased its holdings in shares of Taiwan Semiconductor Manufacturing by 4.2% in the fourth quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company’s stock valued at $244,000 after purchasing an additional 50 shares during the period. Formidable Asset Management LLC raised its stake in shares of Taiwan Semiconductor Manufacturing by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 50 shares during the last quarter. Finally, Connecticut Wealth Management LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 0.7% during the fourth quarter. Connecticut Wealth Management LLC now owns 7,416 shares of the semiconductor company’s stock worth $1,465,000 after purchasing an additional 55 shares during the period. 16.51% of the stock is currently owned by institutional investors and hedge funds.

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.