Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 2% After Dividend Announcement

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) rose 2% during trading on Thursday after the company announced a dividend. The stock traded as high as $192.57 and last traded at $190.48. Approximately 4,752,055 shares traded hands during trading, a decline of 69% from the average daily volume of 15,425,985 shares. The stock had previously closed at $186.66.

The newly announced dividend which will be paid on Thursday, April 10th. Investors of record on Tuesday, March 18th will be given a dividend of $0.5484 per share. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date is Tuesday, March 18th. This represents a $2.19 annualized dividend and a dividend yield of 1.16%. Taiwan Semiconductor Manufacturing’s payout ratio is presently 31.09%.

Analyst Upgrades and Downgrades

TSM has been the topic of several analyst reports. Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, October 17th. Barclays lifted their price target on Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. TD Cowen lifted their price target on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Finally, StockNews.com upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Taiwan Semiconductor Manufacturing currently has a consensus rating of “Moderate Buy” and an average price target of $209.00.

Taiwan Semiconductor Manufacturing Price Performance

The firm has a market capitalization of $977.95 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 0.91 and a beta of 1.12. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.30 and a current ratio of 2.57. The business’s 50 day moving average is $184.70 and its two-hundred day moving average is $171.47.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.30%. The business had revenue of $23.50 billion during the quarter, compared to analyst estimates of $22.72 billion. Equities research analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Capital International Investors lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 40.2% during the 1st quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock worth $2,679,602,000 after acquiring an additional 5,643,949 shares during the last quarter. PineStone Asset Management Inc. lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 116.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,784,316 shares of the semiconductor company’s stock worth $1,352,992,000 after acquiring an additional 4,186,133 shares during the last quarter. FMR LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 7.2% during the 3rd quarter. FMR LLC now owns 55,974,769 shares of the semiconductor company’s stock worth $9,721,138,000 after acquiring an additional 3,783,802 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 669.7% during the 2nd quarter. Clearbridge Investments LLC now owns 3,721,489 shares of the semiconductor company’s stock worth $646,832,000 after acquiring an additional 3,237,998 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 1,226.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,983,830 shares of the semiconductor company’s stock worth $344,809,000 after acquiring an additional 1,834,298 shares during the last quarter. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Company Profile

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.