Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Gap Up Following Analyst Upgrade

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) gapped up before the market opened on Monday after Susquehanna raised their price target on the stock from $180.00 to $200.00. The stock had previously closed at $172.51, but opened at $177.84. Susquehanna currently has a positive rating on the stock. Taiwan Semiconductor Manufacturing shares last traded at $174.92, with a volume of 4,671,408 shares trading hands.

TSM has been the topic of a number of other research reports. StockNews.com upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Barclays boosted their price target on shares of Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. Needham & Company LLC restated a “buy” rating and set a $168.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Wednesday, May 22nd. Finally, TD Cowen boosted their price target on shares of Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the company a “hold” rating in a report on Thursday, April 18th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TSM. Van ECK Associates Corp increased its stake in Taiwan Semiconductor Manufacturing by 53.4% in the 1st quarter. Van ECK Associates Corp now owns 17,416,194 shares of the semiconductor company’s stock valued at $2,369,473,000 after buying an additional 6,060,511 shares during the period. Capital International Investors increased its stake in Taiwan Semiconductor Manufacturing by 40.2% in the 1st quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock valued at $2,679,602,000 after buying an additional 5,643,949 shares during the period. Capital World Investors increased its stake in Taiwan Semiconductor Manufacturing by 11.4% in the 4th quarter. Capital World Investors now owns 41,356,279 shares of the semiconductor company’s stock valued at $4,301,178,000 after buying an additional 4,240,928 shares during the period. Morgan Stanley increased its stake in shares of Taiwan Semiconductor Manufacturing by 11.2% during the 3rd quarter. Morgan Stanley now owns 23,804,180 shares of the semiconductor company’s stock worth $2,068,583,000 after purchasing an additional 2,400,882 shares during the last quarter. Finally, Harding Loevner LP increased its stake in shares of Taiwan Semiconductor Manufacturing by 20.9% during the 4th quarter. Harding Loevner LP now owns 11,616,715 shares of the semiconductor company’s stock worth $1,222,768,000 after purchasing an additional 2,008,043 shares during the last quarter. Institutional investors and hedge funds own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Trading Up 2.8 %

The company’s 50 day moving average price is $149.65 and its 200 day moving average price is $130.34. The company has a market cap of $919.50 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 1.18 and a beta of 1.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.39.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, April 18th. The semiconductor company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.29 by $0.09. Taiwan Semiconductor Manufacturing had a net margin of 38.15% and a return on equity of 24.75%. The company had revenue of $18.87 billion for the quarter, compared to analyst estimates of $18.38 billion. Research analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.13 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.4865 per share. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.95 annualized dividend and a dividend yield of 1.10%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 32.76%.

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.