Taiwan Semiconductor Manufacturing (NYSE:TSM) Reaches New 12-Month High Following Analyst Upgrade – Defense World
Posted by Defense World Staff on Jun 19th, 2024 
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM – Get Free Report) reached a new 52-week high during trading on Tuesday after Susquehanna raised their price target on the stock from $180.00 to $200.00. Susquehanna currently has a positive rating on the stock. Taiwan Semiconductor Manufacturing traded as high as $181.58 and last traded at $182.21, with a volume of 3316699 shares trading hands. The stock had previously closed at $177.24.
A number of other analysts also recently weighed in on the company. StockNews.com upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. TD Cowen increased their price objective on shares of Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Thursday, April 18th. Needham & Company LLC reissued a “buy” rating and set a $168.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, May 22nd. Finally, Barclays upped their price objective on Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.
View Our Latest Stock Analysis on TSM
Several large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 53.4% during the 1st quarter. Van ECK Associates Corp now owns 17,416,194 shares of the semiconductor company’s stock worth $2,369,473,000 after acquiring an additional 6,060,511 shares during the period. Capital International Investors raised its stake in Taiwan Semiconductor Manufacturing by 40.2% during the first quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock worth $2,679,602,000 after purchasing an additional 5,643,949 shares during the period. Capital World Investors increased its stake in Taiwan Semiconductor Manufacturing by 11.4% during the fourth quarter. Capital World Investors now owns 41,356,279 shares of the semiconductor company’s stock worth $4,301,178,000 after acquiring an additional 4,240,928 shares during the last quarter. Morgan Stanley grew its stake in Taiwan Semiconductor Manufacturing by 11.2% during the third quarter. Morgan Stanley now owns 23,804,180 shares of the semiconductor company’s stock worth $2,068,583,000 after buying an additional 2,400,882 shares during the period. Finally, Harding Loevner LP increased its holdings in Taiwan Semiconductor Manufacturing by 20.9% in the 4th quarter. Harding Loevner LP now owns 11,616,715 shares of the semiconductor company’s stock valued at $1,222,768,000 after purchasing an additional 2,008,043 shares in the last quarter. 16.51% of the stock is currently owned by hedge funds and other institutional investors.
The firm has a fifty day moving average of $150.32 and a 200 day moving average of $130.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.39. The firm has a market capitalization of $928.32 billion, a PE ratio of 34.09, a P/E/G ratio of 1.18 and a beta of 1.11.
Taiwan Semiconductor Manufacturing (NYSE:TSM – Get Free Report) last announced its earnings results on Thursday, April 18th. The semiconductor company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.09. The company had revenue of $18.87 billion for the quarter, compared to analyst estimates of $18.38 billion. Taiwan Semiconductor Manufacturing had a return on equity of 24.75% and a net margin of 38.15%. Equities research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.13 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.4865 per share. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. This represents a $1.95 annualized dividend and a yield of 1.09%. The ex-dividend date is Thursday, September 12th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is currently 32.76%.
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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.
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