Taiwan Semiconductor Manufacturing (NYSE:TSM) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) in a report issued on Thursday morning, MarketBeat.com reports. They currently have a $210.00 price objective on the semiconductor company’s stock.

Several other equities research analysts have also recently issued reports on TSM. Sanford C. Bernstein raised their price target on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. TD Cowen raised their target price on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Finally, Susquehanna reiterated a “positive” rating and issued a $250.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and a consensus price target of $200.00.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM opened at $200.78 on Thursday. The company has a 50-day moving average of $175.31 and a two-hundred day moving average of $164.42. The stock has a market cap of $1.04 trillion, a P/E ratio of 32.18, a PEG ratio of 1.16 and a beta of 1.14. Taiwan Semiconductor Manufacturing has a 12-month low of $84.95 and a 12-month high of $212.60. The company has a current ratio of 2.47, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.11. The company had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.33 billion. Taiwan Semiconductor Manufacturing had a return on equity of 27.97% and a net margin of 39.10%. Taiwan Semiconductor Manufacturing’s revenue was up 34.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 earnings per share. As a group, research analysts predict that Taiwan Semiconductor Manufacturing will post 6.63 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a $0.4871 dividend. This represents a $1.95 dividend on an annualized basis and a yield of 0.97%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, December 12th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 31.57%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of large investors have recently bought and sold shares of the stock. NBC Securities Inc. grew its position in Taiwan Semiconductor Manufacturing by 8.4% during the first quarter. NBC Securities Inc. now owns 4,253 shares of the semiconductor company’s stock valued at $578,000 after acquiring an additional 331 shares during the period. Fulton Bank N.A. increased its position in Taiwan Semiconductor Manufacturing by 9.8% during the 1st quarter. Fulton Bank N.A. now owns 2,947 shares of the semiconductor company’s stock worth $401,000 after purchasing an additional 263 shares in the last quarter. Wedmont Private Capital raised its holdings in Taiwan Semiconductor Manufacturing by 10.9% in the first quarter. Wedmont Private Capital now owns 7,903 shares of the semiconductor company’s stock valued at $1,149,000 after buying an additional 779 shares during the period. American National Bank lifted its position in Taiwan Semiconductor Manufacturing by 24.8% during the first quarter. American National Bank now owns 1,592 shares of the semiconductor company’s stock valued at $217,000 after buying an additional 316 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in Taiwan Semiconductor Manufacturing by 4.2% during the first quarter. Park Avenue Securities LLC now owns 41,242 shares of the semiconductor company’s stock worth $5,611,000 after buying an additional 1,679 shares during the period. Hedge funds and other institutional investors own 16.51% of the company’s stock.

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.