Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 4% – Still a Buy?

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) traded up 4% during mid-day trading on Tuesday . The company traded as high as $218.80 and last traded at $218.78. 4,971,950 shares traded hands during trading, a decline of 68% from the average session volume of 15,475,510 shares. The stock had previously closed at $210.32.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TSM shares. Susquehanna raised their price objective on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a “positive” rating in a research report on Tuesday, June 17th. Barclays reissued an “overweight” rating and issued a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, April 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $222.50.

Taiwan Semiconductor Manufacturing Stock Performance

The firm has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 28.21, a PEG ratio of 1.08 and a beta of 1.27. The firm’s 50 day simple moving average is $187.34 and its 200 day simple moving average is $189.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.18 and a current ratio of 2.39.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. The company had revenue of $25.82 billion for the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a net margin of 41.67% and a return on equity of 31.43%. Sell-side analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. This represents a $2.60 annualized dividend and a yield of 1.18%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 30.59%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several large investors have recently made changes to their positions in TSM. Guardian Partners Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth about $9,222,000. Hardman Johnston Global Advisors LLC raised its holdings in Taiwan Semiconductor Manufacturing by 7.6% in the 4th quarter. Hardman Johnston Global Advisors LLC now owns 381,432 shares of the semiconductor company’s stock worth $75,329,000 after purchasing an additional 26,847 shares during the period. Pinnacle Investment Management Ltd purchased a new position in Taiwan Semiconductor Manufacturing during the fourth quarter worth approximately $26,661,000. Alphinity Investment Management Pty Ltd acquired a new stake in Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $349,241,000. Finally, BankPlus Trust Department acquired a new stake in Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $1,509,000. 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.