Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading 0.8% Higher on Better-Than-Expected Earnings

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report) shares were up 0.8% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $157.50 and last traded at $152.94. Approximately 12,700,724 shares traded hands during trading, a decline of 20% from the average daily volume of 15,865,895 shares. The stock had previously closed at $151.67.

The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The business had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be given a $0.6855 dividend. This is a positive change from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.55. This represents a $2.74 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Thursday, June 12th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 30.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TSM. Barclays boosted their price objective on shares of Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Susquehanna dropped their price target on Taiwan Semiconductor Manufacturing from $265.00 to $250.00 and set a "positive" rating on the stock in a research note on Thursday. StockNews.com cut Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $220.00.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several institutional investors and hedge funds have recently modified their holdings of the stock. Accel Wealth Management boosted its position in Taiwan Semiconductor Manufacturing by 2.5% in the 4th quarter. Accel Wealth Management now owns 2,037 shares of the semiconductor company's stock worth $402,000 after purchasing an additional 49 shares in the last quarter. Elmwood Wealth Management Inc. boosted its holdings in Taiwan Semiconductor Manufacturing by 3.7% during the fourth quarter. Elmwood Wealth Management Inc. now owns 1,405 shares of the semiconductor company's stock worth $277,000 after buying an additional 50 shares in the last quarter. WP Advisors LLC grew its position in Taiwan Semiconductor Manufacturing by 1.2% during the fourth quarter. WP Advisors LLC now owns 4,271 shares of the semiconductor company's stock valued at $843,000 after buying an additional 50 shares during the period. Heritage Wealth Advisors increased its holdings in Taiwan Semiconductor Manufacturing by 20.0% in the fourth quarter. Heritage Wealth Advisors now owns 300 shares of the semiconductor company's stock valued at $59,000 after buying an additional 50 shares in the last quarter. Finally, First Heartland Consultants Inc. raised its position in shares of Taiwan Semiconductor Manufacturing by 4.2% in the fourth quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company's stock worth $244,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.30 and a current ratio of 2.57. The firm has a market capitalization of $787.61 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 0.66 and a beta of 1.16. The firm's 50 day moving average price is $173.73 and its 200-day moving average price is $190.08.

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.