Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report) shares traded up 0.1% during trading on Friday following a better than expected earnings announcement. The stock traded as high as $157.50 and last traded at $151.86. 27,206,037 shares were traded during mid-day trading, an increase of 71% from the average session volume of 15,909,742 shares. The stock had previously closed at $151.67.
The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. The firm had revenue of $25.82 billion for the quarter, compared to analyst estimates of $834.10 billion.
Taiwan Semiconductor Manufacturing Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.6855 per share. This represents a $2.74 annualized dividend and a dividend yield of 1.81%. This is an increase from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.55. The ex-dividend date is Thursday, June 12th. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 30.68%.
Wall Street Analyst Weigh In
Several research firms have issued reports on TSM. Susquehanna cut their price objective on Taiwan Semiconductor Manufacturing from $265.00 to $250.00 and set a "positive" rating on the stock in a report on Thursday. Needham & Company LLC restated a "buy" rating and set a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday. Barclays raised their price objective on shares of Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, StockNews.com lowered Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $220.00.
Read Our Latest Stock Report on TSM
Institutional Trading of Taiwan Semiconductor Manufacturing
Several institutional investors have recently made changes to their positions in the stock. Bell Bank lifted its position in Taiwan Semiconductor Manufacturing by 34.0% in the 1st quarter. Bell Bank now owns 9,032 shares of the semiconductor company's stock worth $1,499,000 after buying an additional 2,292 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of Taiwan Semiconductor Manufacturing by 95.5% in the first quarter. Rakuten Securities Inc. now owns 15,287 shares of the semiconductor company's stock worth $2,538,000 after acquiring an additional 7,468 shares during the last quarter. Bfsg LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 0.6% during the first quarter. Bfsg LLC now owns 26,561 shares of the semiconductor company's stock worth $4,409,000 after acquiring an additional 149 shares in the last quarter. NBT Bank N A NY boosted its position in Taiwan Semiconductor Manufacturing by 30.0% during the first quarter. NBT Bank N A NY now owns 3,229 shares of the semiconductor company's stock valued at $536,000 after purchasing an additional 746 shares during the last quarter. Finally, Strategic Advisors LLC purchased a new position in Taiwan Semiconductor Manufacturing in the first quarter valued at about $1,363,000. 16.51% of the stock is currently owned by institutional investors and hedge funds.
Taiwan Semiconductor Manufacturing Stock Performance
The company has a market capitalization of $787.61 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 0.66 and a beta of 1.16. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.24. The firm has a 50-day simple moving average of $174.87 and a two-hundred day simple moving average of $190.12.
About Taiwan Semiconductor Manufacturing
(
Get Free Report)
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.
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