Needham & Company LLC Reaffirms “Buy” Rating for Taiwan Semiconductor Manufacturing (NYSE:TSM)

Needham & Company LLC restated their buy rating on shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) in a research note released on Thursday, Benzinga reports. They currently have a $210.00 price target on the semiconductor company’s stock.

TSM has been the subject of several other reports. Susquehanna reaffirmed a “positive” rating and set a $250.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, August 14th. TD Cowen raised their price objective on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Finally, Sanford C. Bernstein upped their target price on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.00.

Taiwan Semiconductor Manufacturing Stock Up 9.7 %

Shares of NYSE:TSM opened at $205.74 on Thursday. Taiwan Semiconductor Manufacturing has a one year low of $84.95 and a one year high of $212.60. The company has a 50 day moving average of $174.64 and a 200-day moving average of $163.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.47 and a quick ratio of 2.21. The stock has a market cap of $1.07 trillion, a price-to-earnings ratio of 39.19, a P/E/G ratio of 1.13 and a beta of 1.14.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings data on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. Taiwan Semiconductor Manufacturing had a net margin of 37.85% and a return on equity of 25.54%. The firm had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.33 billion. During the same quarter in the previous year, the company earned $1.14 earnings per share. The business’s revenue for the quarter was up 34.6% on a year-over-year basis. On average, sell-side analysts forecast that Taiwan Semiconductor Manufacturing will post 6.45 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be paid a $0.4871 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $1.95 annualized dividend and a yield of 0.95%. Taiwan Semiconductor Manufacturing’s payout ratio is 36.95%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors and hedge funds have recently modified their holdings of the business. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $25,000. Olistico Wealth LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter valued at $27,000. Valley Wealth Managers Inc. acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter worth $27,000. North Star Investment Management Corp. increased its position in shares of Taiwan Semiconductor Manufacturing by 670.4% in the first quarter. North Star Investment Management Corp. now owns 208 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 181 shares during the period. Finally, NewSquare Capital LLC acquired a new position in Taiwan Semiconductor Manufacturing in the second quarter valued at about $29,000. 16.51% of the stock is currently 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 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.