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

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) saw strong 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. 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 brokerages also recently commented on TSM. StockNews.com upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Needham & Company LLC reiterated a “buy” rating and issued a $168.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday. Susquehanna increased their price objective on Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, April 2nd. Finally, TD Cowen increased their price objective on Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the stock a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TSM. Johnson Financial Group Inc. purchased a new position in Taiwan Semiconductor Manufacturing in the fourth quarter worth about $25,000. Financial Gravity Asset Management Inc. boosted its position in Taiwan Semiconductor Manufacturing by 208.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 312 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 211 shares during the last quarter. MBM Wealth Consultants LLC purchased a new position in Taiwan Semiconductor Manufacturing in the fourth quarter worth about $27,000. Sachetta LLC purchased a new position in Taiwan Semiconductor Manufacturing in the fourth quarter worth about $29,000. Finally, PCA Investment Advisory Services Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing in the second quarter worth about $29,000. 16.51% of the stock is owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Price Performance

The firm has a 50 day moving average price of $136.61 and a 200 day moving average price of $112.74. The stock has a market cap of $664.48 billion, a P/E ratio of 24.90, a P/E/G ratio of 1.06 and a beta of 1.15. The company has a quick ratio of 2.13, a current ratio of 2.40 and a debt-to-equity ratio of 0.26.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its earnings results on Thursday, January 18th. The semiconductor company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.07. The company had revenue of $19.62 billion for the quarter, compared to the consensus estimate of $18.99 billion. Taiwan Semiconductor Manufacturing had a return on equity of 25.24% and a net margin of 38.80%. On average, analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.15 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Thursday, June 13th will be issued a dividend of $0.4408 per share. This represents a $1.76 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, June 13th. Taiwan Semiconductor Manufacturing’s dividend 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.