Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Up 4.9% Following Better-Than-Expected Earnings

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report) shares were up 4.9% on Thursday following a stronger than expected earnings report. The stock traded as high as $221.95 and last traded at $216.87. Approximately 23,181,844 shares changed hands during trading, an increase of 41% from the average daily volume of 16,389,395 shares. The stock had previously closed at $206.80.

The semiconductor company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.44%.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Tuesday, March 18th will be issued a dividend of $0.5484 per share. This represents a $2.19 dividend on an annualized basis and a dividend yield of 1.02%. This is a boost from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.49. The ex-dividend date is Tuesday, March 18th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is currently 35.10%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TSM shares. Needham & Company LLC reiterated a "buy" rating and set a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday. Susquehanna reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Barclays boosted their price target on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the stock an "overweight" rating in a research note on Monday, November 18th. Finally, StockNews.com cut Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a research note on Sunday, November 17th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $217.00.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Hedge funds have recently modified their holdings of the company. FMR LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 7.2% in the third quarter. FMR LLC now owns 55,974,769 shares of the semiconductor company's stock worth $9,721,138,000 after purchasing an additional 3,783,802 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 669.7% in the 2nd quarter. Clearbridge Investments LLC now owns 3,721,489 shares of the semiconductor company's stock worth $646,832,000 after buying an additional 3,237,998 shares during the last quarter. 1832 Asset Management L.P. increased its stake in shares of Taiwan Semiconductor Manufacturing by 1,226.7% during the second quarter. 1832 Asset Management L.P. now owns 1,983,830 shares of the semiconductor company's stock valued at $344,809,000 after buying an additional 1,834,298 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 799.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,899,088 shares of the semiconductor company's stock valued at $329,815,000 after acquiring an additional 1,687,886 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Taiwan Semiconductor Manufacturing in the third quarter worth $229,098,000. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Trading Up 4.0 %

The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. The firm's fifty day moving average is $197.53 and its two-hundred day moving average is $183.96. The firm has a market cap of $1.12 trillion, a P/E ratio of 34.46, a PEG ratio of 0.76 and a beta of 1.07.

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.