Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 1.4% – Time to Buy?

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) shot up 1.4% during trading on Monday . The company traded as high as $295.01 and last traded at $293.02. Approximately 6,024,164 shares were traded during mid-day trading, a decline of 58% from the average session volume of 14,212,787 shares. The stock had previously closed at $288.95.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TSM. Wall Street Zen raised Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Sunday, December 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $360.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Monday, October 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Monday, December 15th. Itau BBA Securities assumed coverage on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, October 7th. They issued an “outperform” rating for the company. Finally, Sanford C. Bernstein raised their price target on shares of Taiwan Semiconductor Manufacturing from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Sunday, December 7th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $355.00.

Taiwan Semiconductor Manufacturing Trading Up 1.4%

The company’s 50-day moving average is $292.52 and its 200-day moving average is $260.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.47 and a current ratio of 2.69. The firm has a market cap of $1.52 trillion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 0.99 and a beta of 1.31.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Thursday, October 16th. The semiconductor company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.33. Taiwan Semiconductor Manufacturing had a net margin of 43.72% and a return on equity of 34.34%. The company had revenue of $32.36 billion during the quarter, compared to the consensus estimate of $951.89 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. The company’s revenue was up 40.1% on a year-over-year basis. On average, research analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.9678 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $3.87 annualized dividend and a yield of 1.3%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is currently 25.85%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors and hedge funds have recently made changes to their positions in the company. Westfuller Advisors LLC lifted its position in Taiwan Semiconductor Manufacturing by 2.2% during the 3rd quarter. Westfuller Advisors LLC now owns 1,551 shares of the semiconductor company’s stock valued at $434,000 after purchasing an additional 34 shares during the period. BankPlus Wealth Management LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 1.6% in the third quarter. BankPlus Wealth Management LLC now owns 2,291 shares of the semiconductor company’s stock valued at $640,000 after buying an additional 35 shares during the period. Bank of Jackson Hole Trust boosted its stake in Taiwan Semiconductor Manufacturing by 7.5% in the third quarter. Bank of Jackson Hole Trust now owns 500 shares of the semiconductor company’s stock valued at $140,000 after acquiring an additional 35 shares during the last quarter. New Millennium Group LLC boosted its stake in Taiwan Semiconductor Manufacturing by 2.9% in the third quarter. New Millennium Group LLC now owns 1,248 shares of the semiconductor company’s stock valued at $349,000 after acquiring an additional 35 shares during the last quarter. Finally, Empirical Asset Management LLC grew its holdings in Taiwan Semiconductor Manufacturing by 1.8% during the 3rd quarter. Empirical Asset Management LLC now owns 2,008 shares of the semiconductor company’s stock worth $561,000 after acquiring an additional 36 shares during the period. Institutional investors own 16.51% of the company’s stock.

About Taiwan Semiconductor Manufacturing

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.