Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading 2.4% Higher - Should You Buy?

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report) were up 2.4% on Thursday . The stock traded as high as $161.67 and last traded at $161.65. Approximately 4,896,326 shares were traded during trading, a decline of 73% from the average daily volume of 18,293,627 shares. The stock had previously closed at $157.81.

Analyst Ratings Changes

Several brokerages have recently issued reports on TSM. Susquehanna restated a "positive" rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday. StockNews.com downgraded shares of Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Needham & Company LLC restated a "buy" rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Finally, Barclays reaffirmed a "hold" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing presently has a consensus rating of "Moderate Buy" and an average price target of $212.00.

Taiwan Semiconductor Manufacturing Stock Performance

The business's 50 day simple moving average is $169.09 and its two-hundred day simple moving average is $189.15. The firm has a market capitalization of $857.21 billion, a PE ratio of 23.48, 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.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share 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 analysts' expectations of $834.10 billion. Research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 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, July 10th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.6855 per share. This is a boost from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $2.74 dividend on an annualized basis and a yield of 1.66%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 27.76%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds have recently modified their holdings of TSM. Mather Group LLC. increased its stake in Taiwan Semiconductor Manufacturing by 11.7% in the 1st quarter. Mather Group LLC. now owns 6,567 shares of the semiconductor company's stock worth $1,090,000 after buying an additional 687 shares in the last quarter. Smith Salley Wealth Management raised its holdings in shares of Taiwan Semiconductor Manufacturing by 19.3% during the 1st quarter. Smith Salley Wealth Management now owns 1,871 shares of the semiconductor company's stock worth $311,000 after acquiring an additional 303 shares in the last quarter. Koshinski Asset Management Inc. boosted its position in shares of Taiwan Semiconductor Manufacturing by 21.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 6,411 shares of the semiconductor company's stock valued at $1,064,000 after acquiring an additional 1,116 shares during the last quarter. J.Safra Asset Management Corp grew its stake in shares of Taiwan Semiconductor Manufacturing by 17.8% in the 1st quarter. J.Safra Asset Management Corp now owns 4,538 shares of the semiconductor company's stock worth $753,000 after buying an additional 685 shares in the last quarter. Finally, Red Door Wealth Management LLC raised its position in Taiwan Semiconductor Manufacturing by 42.9% during the first quarter. Red Door Wealth Management LLC now owns 7,419 shares of the semiconductor company's stock valued at $1,232,000 after purchasing an additional 2,229 shares during the period. 16.51% of the stock is currently owned by institutional investors.

Taiwan Semiconductor Manufacturing Company Profile

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.