Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Up 5% - Here's What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report)'s share price was up 5% on Wednesday . The stock traded as high as $160.38 and last traded at $159.02. Approximately 8,114,157 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 15,710,544 shares. The stock had previously closed at $151.40.

Wall Street Analyst Weigh In

A number of research analysts have commented on TSM shares. Susquehanna reduced their target price on Taiwan Semiconductor Manufacturing from $265.00 to $250.00 and set a "positive" rating on the stock in a report on Thursday, April 17th. StockNews.com cut Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Barclays lowered their target price on shares of Taiwan Semiconductor Manufacturing from $255.00 to $215.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $212.00.

Taiwan Semiconductor Manufacturing Price Performance

The company has a market capitalization of $845.43 billion, a P/E ratio of 23.16, a PEG ratio of 0.66 and a beta of 1.16. 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 business has a 50 day simple moving average of $169.84 and a 200-day simple moving average of $189.29.

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, beating 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 the consensus estimate of $834.10 billion. Analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be issued a $0.6855 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 1.68%. This is a positive change 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 27.76%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Several hedge funds have recently added to or reduced their stakes in TSM. Stonebridge Financial Group LLC acquired a new stake in Taiwan Semiconductor Manufacturing in the fourth quarter worth about $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $26,000. Hopwood Financial Services Inc. acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $27,000. City Holding Co. increased its stake in shares of Taiwan Semiconductor Manufacturing by 238.0% during the first quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 119 shares during the period. Finally, Roxbury Financial LLC bought a new stake in Taiwan Semiconductor Manufacturing during the fourth quarter worth approximately $29,000. Institutional investors 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.