Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 2.7% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock price was up 2.7% during trading on Tuesday . The company traded as high as $197.60 and last traded at $196.82. Approximately 3,418,222 shares traded hands during trading, a decline of 78% from the average daily volume of 15,453,376 shares. The stock had previously closed at $191.56.

Analyst Ratings Changes

A number of analysts have weighed in on TSM shares. TD Cowen increased their target price on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, October 17th. Barclays upped their target price on shares of Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com downgraded Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Susquehanna reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $209.00.

Taiwan Semiconductor Manufacturing Stock Up 2.1 %

The firm has a market capitalization of $1.01 trillion, a PE ratio of 31.73, a PEG ratio of 0.93 and a beta of 1.12. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $180.90 and a 200 day simple moving average of $168.70.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a $0.4871 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $1.95 annualized dividend and a yield of 1.00%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 31.09%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Defender Capital LLC. increased its holdings in Taiwan Semiconductor Manufacturing by 3.7% in the 3rd quarter. Defender Capital LLC. now owns 1,565 shares of the semiconductor company’s stock worth $272,000 after buying an additional 56 shares in the last quarter. Seed Wealth Management Inc. raised its holdings in shares of Taiwan Semiconductor Manufacturing by 1.3% during the 2nd quarter. Seed Wealth Management Inc. now owns 4,558 shares of the semiconductor company’s stock worth $792,000 after acquiring an additional 57 shares in the last quarter. Keudell Morrison Wealth Management raised its position in shares of Taiwan Semiconductor Manufacturing by 1.5% during the 2nd quarter. Keudell Morrison Wealth Management now owns 4,027 shares of the semiconductor company’s stock valued at $700,000 after buying an additional 59 shares in the last quarter. Heron Bay Capital Management raised its stake in shares of Taiwan Semiconductor Manufacturing by 1.0% in the second quarter. Heron Bay Capital Management now owns 5,710 shares of the semiconductor company’s stock valued at $992,000 after acquiring an additional 59 shares during the period. Finally, Azzad Asset Management Inc. ADV boosted its stake in shares of Taiwan Semiconductor Manufacturing by 0.4% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 14,166 shares of the semiconductor company’s stock worth $2,460,000 after purchasing an additional 63 shares during the period. 16.51% of the stock is owned by hedge funds and other institutional investors.

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.