Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Gap Up – Still a Buy?

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) gapped up before the market opened on Thursday . The stock had previously closed at $151.67, but opened at $156.05. Taiwan Semiconductor Manufacturing shares last traded at $153.21, with a volume of 8,189,700 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TSM. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday. Barclays boosted their price objective on shares of Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Susquehanna dropped their target price on shares of Taiwan Semiconductor Manufacturing from $265.00 to $250.00 and set a “positive” rating for the company in a report on Thursday. Finally, StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. 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, Taiwan Semiconductor Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.00.

Taiwan Semiconductor Manufacturing Trading Up 0.5 %

The company has a market cap of $790.91 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 0.66 and a beta of 1.16. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30. The business’s 50-day simple moving average is $175.99 and its 200-day simple moving average is $190.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings data on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. Research analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a $0.6855 dividend. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. This represents a $2.74 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, June 12th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 30.68%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TSM. Keystone Wealth Services LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 58.9% during the first quarter. Keystone Wealth Services LLC now owns 1,808 shares of the semiconductor company’s stock worth $300,000 after buying an additional 670 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in Taiwan Semiconductor Manufacturing by 2.0% in the 1st quarter. Bank Pictet & Cie Europe AG now owns 456,647 shares of the semiconductor company’s stock worth $75,803,000 after acquiring an additional 8,846 shares during the period. Brighton Jones LLC raised its holdings in Taiwan Semiconductor Manufacturing by 4.4% in the 1st quarter. Brighton Jones LLC now owns 11,414 shares of the semiconductor company’s stock valued at $1,895,000 after acquiring an additional 484 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 17.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 65,828 shares of the semiconductor company’s stock worth $10,927,000 after purchasing an additional 9,731 shares during the period. Finally, BayBridge Capital Group LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter worth $1,491,000. Institutional investors and hedge funds 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.