Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 3.9% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSMGet Free Report) shares were up 3.9% during mid-day trading on Monday . The stock traded as high as $442.58 and last traded at $440.3540. Approximately 11,144,987 shares were traded during trading, a decline of 19% from the average daily volume of 13,778,508 shares. The stock had previously closed at $423.93.

Taiwan Semiconductor Manufacturing News Summary

Here are the key news stories impacting Taiwan Semiconductor Manufacturing this week:

Analyst Upgrades and Downgrades

TSM has been the subject of a number of research analyst reports. Needham & Company LLC raised their target price on Taiwan Semiconductor Manufacturing from $410.00 to $480.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Weiss Ratings upgraded Taiwan Semiconductor Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 20th. Barclays boosted their price target on Taiwan Semiconductor Manufacturing from $450.00 to $470.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Zacks Research lowered Taiwan Semiconductor Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Wall Street Zen upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Sunday, March 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $404.29.

Get Our Latest Stock Report on Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Price Performance

The firm has a fifty day simple moving average of $402.64 and a 200 day simple moving average of $356.22. The company has a market capitalization of $2.24 trillion, a PE ratio of 36.00, a P/E/G ratio of 1.24 and a beta of 1.38. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.31 and a current ratio of 2.49.

Taiwan Semiconductor Manufacturing (NYSE:TSMGet Free Report) last announced its earnings results on Tuesday, February 10th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter. The business had revenue of $30.65 billion for the quarter. Taiwan Semiconductor Manufacturing had a return on equity of 36.81% and a net margin of 46.97%. Equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 15.3 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $1.1136 per share. This represents a $4.45 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 16th. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.95. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 25.12%.

Insider Activity at Taiwan Semiconductor Manufacturing

In other Taiwan Semiconductor Manufacturing news, VP Bor-Zen Tien purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $69.91 per share, for a total transaction of $139,820.00. Following the purchase, the vice president directly owned 11,051 shares in the company, valued at approximately $772,575.41. This trade represents a 22.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Tzu-Sou Chuang sold 200,000 shares of Taiwan Semiconductor Manufacturing stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $69.83, for a total value of $13,966,000.00. Following the completion of the transaction, the vice president owned 2,495,165 shares of the company’s stock, valued at approximately $174,237,371.95. This represents a 7.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders acquired a total of 4,496 shares of company stock worth $304,667 in the last 90 days. Corporate insiders own 1.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 20.9% during the fourth quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company’s stock worth $2,159,000 after acquiring an additional 1,892 shares during the period. Gamco Investors INC. ET AL acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter worth about $701,000. Bank of Nova Scotia boosted its stake in shares of Taiwan Semiconductor Manufacturing by 12.8% during the second quarter. Bank of Nova Scotia now owns 15,697 shares of the semiconductor company’s stock worth $3,556,000 after buying an additional 1,784 shares during the period. FWL Investment Management LLC boosted its stake in shares of Taiwan Semiconductor Manufacturing by 26.5% during the second quarter. FWL Investment Management LLC now owns 253 shares of the semiconductor company’s stock worth $57,000 after buying an additional 53 shares during the period. Finally, Main Street Financial Solutions LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter worth about $270,000. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Company Profile

(Get Free Report)

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC’s service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.

Further Reading

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