Taiwan Semiconductor Manufacturing (NYSE:TSM) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) in a research note released on Thursday, Benzinga reports. They currently have a $168.00 target price on the semiconductor company’s stock.

A number of other research firms have also weighed in on TSM. Susquehanna upped their target price on Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the stock a positive rating in a report on Tuesday, April 2nd. StockNews.com upgraded Taiwan Semiconductor Manufacturing from a hold rating to a buy rating in a report on Thursday, April 11th. Barclays upped their price target on Taiwan Semiconductor Manufacturing from $125.00 to $145.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. Finally, TD Cowen upped their price target on Taiwan Semiconductor Manufacturing from $85.00 to $95.00 and gave the stock a market perform rating in a research report on Friday, January 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $155.75.

Taiwan Semiconductor Manufacturing Stock Down 4.9 %

Shares of NYSE TSM opened at $132.25 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.13 and a current ratio of 2.40. The firm has a market capitalization of $685.90 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 1.06 and a beta of 1.15. The stock has a 50 day moving average price of $136.61 and a 200 day moving average price of $112.74. Taiwan Semiconductor Manufacturing has a 52-week low of $81.21 and a 52-week high of $158.40.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its earnings results on Thursday, January 18th. The semiconductor company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.07. The company had revenue of $19.62 billion during the quarter, compared to analyst estimates of $18.99 billion. Taiwan Semiconductor Manufacturing had a return on equity of 25.24% and a net margin of 38.80%. Sell-side analysts expect that Taiwan Semiconductor Manufacturing will post 6.15 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Thursday, June 13th will be given a $0.4408 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, June 13th. Taiwan Semiconductor Manufacturing’s payout ratio is 33.20%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds have recently made changes to their positions in the company. SeaCrest Wealth Management LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 45.3% in the 1st quarter. SeaCrest Wealth Management LLC now owns 15,237 shares of the semiconductor company’s stock valued at $2,073,000 after acquiring an additional 4,750 shares during the period. Naviter Wealth LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 43.3% in the 1st quarter. Naviter Wealth LLC now owns 84,646 shares of the semiconductor company’s stock valued at $11,562,000 after acquiring an additional 25,563 shares during the period. Quattro Financial Advisors LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 4,707.7% in the 1st quarter. Quattro Financial Advisors LLC now owns 5,000 shares of the semiconductor company’s stock valued at $680,000 after acquiring an additional 4,896 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 1st quarter valued at $207,000. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of Taiwan Semiconductor Manufacturing by 16,445.7% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 49,637 shares of the semiconductor company’s stock valued at $6,753,000 after buying an additional 49,337 shares during the last quarter. 16.51% of the stock is owned by institutional investors and hedge funds.

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 complementary metal oxide silicon wafer fabrication processes to manufacture logic, mixed-signal, radio frequency, and embedded memory semiconductors.