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

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) were up 1.4% during mid-day trading on Friday . The company traded as high as $303.38 and last traded at $302.8660. Approximately 5,100,124 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 14,099,743 shares. The stock had previously closed at $298.80.

Analyst Upgrades and Downgrades

TSM has been the topic of several research reports. Sanford C. Bernstein raised their target price on Taiwan Semiconductor Manufacturing from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Sunday, December 7th. Susquehanna raised their price objective on shares of Taiwan Semiconductor Manufacturing from $300.00 to $400.00 and gave the stock a “positive” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Taiwan Semiconductor Manufacturing in a report on Monday. Citigroup reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 17th. Finally, Barclays boosted their price objective on shares of Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Taiwan Semiconductor Manufacturing has a consensus rating of “Buy” and an average price target of $355.00.

Taiwan Semiconductor Manufacturing Stock Up 1.4%

The company has a current ratio of 2.69, a quick ratio of 2.47 and a debt-to-equity ratio of 0.19. The company has a 50 day simple moving average of $292.18 and a two-hundred day simple moving average of $262.07. The firm has a market capitalization of $1.57 trillion, a P/E ratio of 31.06, a P/E/G ratio of 1.02 and a beta of 1.31.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Friday, November 14th. The semiconductor company reported $14.32 EPS for the quarter. Taiwan Semiconductor Manufacturing had a net margin of 43.72% and a return on equity of 34.34%. On average, equities analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

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

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSM. Triumph Capital Management purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 3rd quarter worth approximately $70,000. Sherman Porfolios LLC bought a new stake in Taiwan Semiconductor Manufacturing in the third quarter worth $202,000. AIA Group Ltd purchased a new stake in Taiwan Semiconductor Manufacturing during the third quarter valued at $2,659,000. Mirabella Financial Services LLP lifted its position in Taiwan Semiconductor Manufacturing by 122.8% during the third quarter. Mirabella Financial Services LLP now owns 17,361 shares of the semiconductor company’s stock valued at $4,839,000 after purchasing an additional 9,570 shares during the last quarter. Finally, Mainstay Capital Management LLC ADV purchased a new position in shares of Taiwan Semiconductor Manufacturing in the 3rd quarter worth $328,000. 16.51% of the stock is owned by institutional investors.

Taiwan Semiconductor Manufacturing Company Profile

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.