Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) in a research note released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $168.00 price objective on the semiconductor company’s stock.

Several other equities analysts also recently weighed in on TSM. StockNews.com raised Taiwan Semiconductor Manufacturing from a hold rating to a buy rating in a research report on Thursday, April 11th. TD Cowen raised their price target on Taiwan Semiconductor Manufacturing from $85.00 to $95.00 and gave the stock a market perform rating in a research report on Friday, January 12th. Susquehanna raised their price target on Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the stock a positive rating in a research report on Tuesday, April 2nd. Finally, Barclays raised their price target on Taiwan Semiconductor Manufacturing from $125.00 to $145.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $157.00.

Taiwan Semiconductor Manufacturing Stock Performance

NYSE TSM opened at $127.70 on Thursday. Taiwan Semiconductor Manufacturing has a 1-year low of $81.21 and a 1-year high of $158.40. The company has a market capitalization of $662.30 billion, a P/E ratio of 24.32, a PEG ratio of 0.98 and a beta of 1.15. The business has a 50 day moving average price of $136.50 and a 200 day moving average price of $113.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.40 and a quick ratio of 2.13.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Thursday, January 18th. The semiconductor company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.07. Taiwan Semiconductor Manufacturing had a return on equity of 25.21% and a net margin of 38.15%. The firm had revenue of $19.62 billion during the quarter, compared to the consensus estimate of $18.99 billion. Sell-side analysts expect that Taiwan Semiconductor Manufacturing will post 6.1 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. Stockholders 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 dividend yield of 1.38%. The ex-dividend date is Thursday, June 13th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 32.76%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its holdings in Taiwan Semiconductor Manufacturing by 27.7% in the fourth quarter. Morgan Stanley now owns 32,513,567 shares of the semiconductor company’s stock valued at $2,421,936,000 after acquiring an additional 7,045,899 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Taiwan Semiconductor Manufacturing by 108,945.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,471,916 shares of the semiconductor company’s stock valued at $407,603,000 after acquiring an additional 5,466,898 shares during the last quarter. Capital World Investors boosted its holdings in Taiwan Semiconductor Manufacturing by 11.4% in the fourth quarter. Capital World Investors now owns 41,356,279 shares of the semiconductor company’s stock valued at $4,301,178,000 after acquiring an additional 4,240,928 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in Taiwan Semiconductor Manufacturing by 330.5% in the third quarter. PineStone Asset Management Inc. now owns 4,802,924 shares of the semiconductor company’s stock valued at $417,374,000 after acquiring an additional 3,687,249 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Taiwan Semiconductor Manufacturing by 29.6% in the third quarter. Van ECK Associates Corp now owns 14,795,582 shares of the semiconductor company’s stock valued at $1,285,736,000 after acquiring an additional 3,381,514 shares during the last quarter. 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.