Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading 2.7% Higher - Should You Buy?

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report)'s share price traded up 2.7% during trading on Friday . The company traded as high as $198.17 and last traded at $195.69. 5,393,831 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 15,498,651 shares. The stock had previously closed at $190.54.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays lifted their target price on shares of Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, October 17th. TD Cowen lifted their target price on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a "hold" rating in a report on Thursday, July 18th. Finally, Susquehanna reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $209.00.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a market cap of $1.00 trillion, a PE ratio of 31.36, a P/E/G ratio of 0.94 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.21 and a current ratio of 2.57. The stock's 50-day simple moving average is $180.02 and its 200 day simple moving average is $167.52.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders 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 dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, December 12th. This is an increase from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is currently 31.09%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Hedge funds have recently made changes to their positions in the stock. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter valued at $25,000. Reston Wealth Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter valued at $27,000. Olistico Wealth LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the 2nd quarter worth $27,000. Finally, NewSquare Capital LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the 2nd quarter worth $29,000. Institutional investors and hedge funds 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.