Taiwan Semiconductor Manufacturing (NYSE:TSM) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) saw unusually-high trading volume on Friday after Barclays raised their price target on the stock from $145.00 to $150.00. Barclays currently has an overweight rating on the stock. Approximately 5,552,957 shares changed hands during mid-day trading, a decline of 64% from the previous session’s volume of 15,575,888 shares.The stock last traded at $128.99 and had previously closed at $132.27.

A number of other research firms have also recently issued reports on TSM. TD Cowen upped their price target on shares of Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the company a “hold” rating in a report on Thursday. Susquehanna upped their price target on shares of Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the company a “positive” rating in a report on Tuesday, April 2nd. StockNews.com upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $168.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TSM. Congress Wealth Management LLC DE increased its holdings in shares of Taiwan Semiconductor Manufacturing by 2.2% during the third quarter. Congress Wealth Management LLC DE now owns 30,905 shares of the semiconductor company’s stock worth $2,686,000 after buying an additional 671 shares in the last quarter. CapWealth Advisors LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 21.1% during the fourth quarter. CapWealth Advisors LLC now owns 122,310 shares of the semiconductor company’s stock valued at $12,720,000 after purchasing an additional 21,329 shares during the last quarter. LGT Capital Partners LTD. grew its stake in shares of Taiwan Semiconductor Manufacturing by 4.4% during the third quarter. LGT Capital Partners LTD. now owns 1,554,790 shares of the semiconductor company’s stock valued at $135,111,000 after purchasing an additional 65,220 shares during the last quarter. Naples Global Advisors LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 1.0% during the third quarter. Naples Global Advisors LLC now owns 110,356 shares of the semiconductor company’s stock valued at $9,640,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 7.7% during the third quarter. Exchange Traded Concepts LLC now owns 159,658 shares of the semiconductor company’s stock valued at $13,874,000 after purchasing an additional 11,427 shares during the last quarter. Institutional investors and hedge funds own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.40 and a quick ratio of 2.13. The company’s 50 day moving average price is $136.50 and its 200 day moving average price is $113.02. The firm has a market capitalization of $662.36 billion, a P/E ratio of 24.65, a PEG ratio of 1.06 and a beta of 1.15.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, January 18th. The semiconductor company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. Taiwan Semiconductor Manufacturing had a net margin of 38.80% and a return on equity of 25.24%. The firm had revenue of $19.62 billion for the quarter, compared to analysts’ expectations of $18.99 billion. As a group, sell-side analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.15 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Thursday, June 13th will be paid a $0.4408 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.76 dividend on an annualized basis and a yield of 1.38%. Taiwan Semiconductor Manufacturing’s payout ratio is presently 33.20%.

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