Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 2.1%

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report) shot up 2.1% during mid-day trading on Thursday . The company traded as high as $189.33 and last traded at $186.24. 6,402,218 shares traded hands during trading, a decline of 59% from the average session volume of 15,501,115 shares. The stock had previously closed at $182.35.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TSM. Barclays lifted their price target on shares of Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Wednesday, June 5th. Susquehanna reiterated a "positive" rating and set a $250.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, August 14th. Needham & Company LLC lifted their price target on shares of Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the company a "buy" rating in a research report on Monday, July 15th. Sanford C. Bernstein lifted their price objective on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an "outperform" rating in a research report on Thursday, June 20th. Finally, TD Cowen lifted their price objective on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a "hold" rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $200.00.

Taiwan Semiconductor Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.47. The stock has a market capitalization of $968.77 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 1.07 and a beta of 1.14. The company has a 50-day moving average of $166.96 and a 200-day moving average of $158.71.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.37 by $0.11. The firm had revenue of $20.82 billion during the quarter, compared to analysts' expectations of $20.33 billion. Taiwan Semiconductor Manufacturing had a net margin of 37.85% and a return on equity of 25.54%. Taiwan Semiconductor Manufacturing's revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 EPS. As a group, equities research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be paid a $0.4871 dividend. This is a boost from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.49. This represents a $1.95 annualized dividend and a yield of 1.04%. The ex-dividend date is Thursday, December 12th. Taiwan Semiconductor Manufacturing's payout ratio is presently 37.71%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Hedge funds and other institutional investors have recently bought and sold shares of the company. Johnson Financial Group Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at $25,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter valued at $25,000. LifeSteps Financial Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 1st quarter valued at $27,000. Olistico Wealth LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter valued at $27,000. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter valued at $27,000. 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.