Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Up 4.1% on Analyst Upgrade – Defense World
Posted by Defense World Staff on Jun 19th, 2024 
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM – Get Free Report) was up 4.1% during mid-day 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 $184.86 and last traded at $184.44. Approximately 9,692,052 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 14,878,646 shares. The stock had previously closed at $177.24.
Several other analysts have also issued reports on TSM. StockNews.com upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Needham & Company LLC restated a “buy” rating and set a $168.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, May 22nd. Barclays boosted their price target on shares of Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. Finally, TD Cowen boosted their price target on shares of Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and a consensus price target of $167.00.
Check Out Our Latest Report on Taiwan Semiconductor Manufacturing
Several institutional investors and hedge funds have recently bought and sold shares of TSM. Prudential PLC boosted its holdings in Taiwan Semiconductor Manufacturing by 19.4% in the 3rd quarter. Prudential PLC now owns 2,925 shares of the semiconductor company’s stock valued at $254,000 after purchasing an additional 476 shares during the last quarter. Glenview Trust co boosted its holdings in Taiwan Semiconductor Manufacturing by 5.5% in the 3rd quarter. Glenview Trust co now owns 4,010 shares of the semiconductor company’s stock valued at $348,000 after purchasing an additional 210 shares during the last quarter. Brandywine Global Investment Management LLC boosted its holdings in Taiwan Semiconductor Manufacturing by 13.3% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 95,432 shares of the semiconductor company’s stock valued at $8,293,000 after purchasing an additional 11,230 shares during the last quarter. LPL Financial LLC boosted its holdings in Taiwan Semiconductor Manufacturing by 8.2% in the 3rd quarter. LPL Financial LLC now owns 567,360 shares of the semiconductor company’s stock valued at $49,304,000 after purchasing an additional 42,771 shares during the last quarter. Finally, Motley Fool Asset Management LLC acquired a new position in Taiwan Semiconductor Manufacturing in the 3rd quarter valued at about $12,511,000. 16.51% of the stock is currently owned by institutional investors and hedge funds.
The business’s 50 day moving average price is $150.32 and its 200-day moving average price is $130.91. 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. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.39.
Taiwan Semiconductor Manufacturing (NYSE:TSM – Get Free Report) last released its quarterly 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 business had revenue of $18.87 billion for the quarter, compared to the consensus estimate of $18.38 billion. Taiwan Semiconductor Manufacturing had a net margin of 38.15% and a return on equity of 24.75%. As a group, equities research analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.13 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Thursday, September 12th will be paid a $0.4865 dividend. This represents a $1.95 dividend on an annualized basis and a dividend yield of 1.09%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, September 12th. Taiwan Semiconductor Manufacturing’s payout ratio is 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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