Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Gap Up to $109.98

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares gapped up before the market opened on Thursday . The stock had previously closed at $109.98, but opened at $113.75. Taiwan Semiconductor Manufacturing shares last traded at $113.02, with a volume of 273,389 shares traded.

Several brokerages have recently issued reports on TSM. Susquehanna Bancshares raised shares of Taiwan Semiconductor Manufacturing from a “negative” rating to a “neutral” rating and increased their price target for the stock from $85.00 to $105.00 in a research report on Wednesday, June 30th. Cowen initiated coverage on shares of Taiwan Semiconductor Manufacturing in a report on Monday. They issued a “market perform” rating and a $120.00 target price on the stock. Needham & Company LLC initiated coverage on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, July 13th. They issued a “buy” rating and a $123.05 target price on the stock. Morgan Stanley cut shares of Taiwan Semiconductor Manufacturing from an “overweight” rating to an “equal weight” rating in a report on Monday, June 21st. Finally, Argus began coverage on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 22nd. They issued a “buy” rating and a $150.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $126.76.

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.65. The firm has a market capitalization of $579.13 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 1.90 and a beta of 0.89. The business’s 50-day moving average price is $115.90 and its 200-day moving average price is $116.91.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Wednesday, July 14th. The semiconductor company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Taiwan Semiconductor Manufacturing had a net margin of 38.14% and a return on equity of 29.17%. The business had revenue of $372.15 billion for the quarter, compared to analyst estimates of $372.58 billion. During the same period last year, the firm posted $4.66 earnings per share. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. Equities analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 4.02 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 13th. Investors of record on Friday, December 17th will be given a $0.4941 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 1.77%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, December 16th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 45.72%.

A number of large investors have recently bought and sold shares of TSM. Quilter Plc grew its position in Taiwan Semiconductor Manufacturing by 22.6% in the 1st quarter. Quilter Plc now owns 613,634 shares of the semiconductor company’s stock valued at $72,581,000 after buying an additional 113,057 shares during the last quarter. Moors & Cabot Inc. grew its position in Taiwan Semiconductor Manufacturing by 64.4% in the 1st quarter. Moors & Cabot Inc. now owns 23,409 shares of the semiconductor company’s stock valued at $2,769,000 after buying an additional 9,174 shares during the last quarter. Geode Capital Management LLC grew its position in Taiwan Semiconductor Manufacturing by 6.5% in the 1st quarter. Geode Capital Management LLC now owns 133,700 shares of the semiconductor company’s stock valued at $15,862,000 after buying an additional 8,146 shares during the last quarter. Harbour Investments Inc. acquired a new stake in Taiwan Semiconductor Manufacturing in the first quarter valued at $51,000. Finally, Cerity Partners LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 41.5% in the first quarter. Cerity Partners LLC now owns 7,635 shares of the semiconductor company’s stock valued at $903,000 after acquiring an additional 2,240 shares during the period. Hedge funds and other institutional investors own 16.55% of the company’s stock.

About Taiwan Semiconductor Manufacturing (NYSE:TSM)

Taiwan Semiconductor Manufacturing Co, Ltd. engages in the manufacture and sale of integrated circuits and wafer semiconductor devices. Its chips are used in personal computers and peripheral products; information applications; wired and wireless communications systems products; automotive and industrial equipment including consumer electronics such as digital video compact disc player, digital television, game consoles, and digital cameras.

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