Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM – Get Free Report) traded up 1.3% on Monday . The company traded as high as $476.79 and last traded at $468.0750. 13,630,772 shares changed hands during trading, a decline of 2% from the average session volume of 13,838,428 shares. The stock had previously closed at $462.12.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on TSM shares. Needham & Company LLC raised their price objective on shares of Taiwan Semiconductor Manufacturing from $410.00 to $480.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Barclays upped their target price on shares of Taiwan Semiconductor Manufacturing from $450.00 to $470.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Susquehanna increased their target price on shares of Taiwan Semiconductor Manufacturing from $500.00 to $575.00 and gave the stock a “positive” rating in a research note on Monday. DA Davidson reissued a “buy” rating and issued a $450.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Friday, April 17th. Finally, Zacks Research lowered shares of Taiwan Semiconductor Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing currently has a consensus rating of “Buy” and an average target price of $429.29.
View Our Latest Stock Analysis on Taiwan Semiconductor Manufacturing
Taiwan Semiconductor Manufacturing Trading Up 1.3%
Taiwan Semiconductor Manufacturing (NYSE:TSM – Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The semiconductor company reported $3.11 EPS for the quarter. The firm had revenue of $30.65 billion for the quarter. Taiwan Semiconductor Manufacturing had a net margin of 46.97% and a return on equity of 36.81%. Analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 15.3 EPS for the current year.
Taiwan Semiconductor Manufacturing Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 16th will be paid a $1.1136 dividend. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.95. This represents a $4.45 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 16th. Taiwan Semiconductor Manufacturing’s payout ratio is currently 25.12%.
Insiders Place Their Bets
In related news, VP Lipen Yuan acquired 1,000 shares of Taiwan Semiconductor Manufacturing stock in a transaction dated Monday, June 15th. The shares were purchased at an average cost of $75.26 per share, with a total value of $75,260.00. Following the completion of the purchase, the vice president owned 4,000 shares of the company’s stock, valued at $301,040. This represents a 33.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Tzu-Sou Chuang sold 200,000 shares of Taiwan Semiconductor Manufacturing stock in a transaction dated Tuesday, May 19th. The stock was 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 in the company, valued at approximately $174,237,371.95. This represents a 7.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 3,496 shares of company stock valued at $248,737. 1.11% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Fisher Asset Management LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 1.8% in the 4th quarter. Fisher Asset Management LLC now owns 18,146,900 shares of the semiconductor company’s stock worth $5,514,662,000 after buying an additional 313,773 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Taiwan Semiconductor Manufacturing by 11.1% during the fourth quarter. Van ECK Associates Corp now owns 17,464,962 shares of the semiconductor company’s stock valued at $5,307,428,000 after acquiring an additional 1,750,824 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Taiwan Semiconductor Manufacturing by 6.5% during the fourth quarter. Bank of America Corp DE now owns 15,902,819 shares of the semiconductor company’s stock valued at $4,832,708,000 after acquiring an additional 966,926 shares in the last quarter. Jennison Associates LLC lifted its stake in Taiwan Semiconductor Manufacturing by 6.4% in the fourth quarter. Jennison Associates LLC now owns 13,394,299 shares of the semiconductor company’s stock worth $4,070,393,000 after acquiring an additional 802,757 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in Taiwan Semiconductor Manufacturing by 2.2% in the third quarter. Alliancebernstein L.P. now owns 10,687,037 shares of the semiconductor company’s stock worth $2,984,783,000 after acquiring an additional 229,237 shares during the period. 16.51% of the stock is owned by hedge funds and other institutional investors.
Taiwan Semiconductor Manufacturing Company Profile
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.
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