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

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock price 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.

TSM has been the subject of a number of research reports. Cowen initiated coverage on Taiwan Semiconductor Manufacturing in a report on Monday. They set a “market perform” rating and a $120.00 target price for the company. Needham & Company LLC initiated coverage on Taiwan Semiconductor Manufacturing in a report on Tuesday, July 13th. They set a “buy” rating and a $123.05 target price for the company. Susquehanna upgraded Taiwan Semiconductor Manufacturing from a “negative” rating to a “neutral” rating and boosted their target price for the stock from $85.00 to $105.00 in a report on Wednesday, June 30th. Morgan Stanley cut Taiwan Semiconductor Manufacturing from an “overweight” rating to an “equal weight” rating in a report on Monday, June 21st. Finally, Zacks Investment Research raised Taiwan Semiconductor Manufacturing from a “sell” rating to a “hold” rating in a research report on Thursday, September 16th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing presently has a consensus rating of “Hold” and an average price target of $126.76.

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

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

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SevenBridge Financial Group LLC grew its stake in Taiwan Semiconductor Manufacturing by 11.3% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,214 shares of the semiconductor company’s stock worth $247,000 after buying an additional 225 shares during the last quarter. Archford Capital Strategies LLC grew its stake in Taiwan Semiconductor Manufacturing by 34.0% during the 3rd quarter. Archford Capital Strategies LLC now owns 5,386 shares of the semiconductor company’s stock worth $601,000 after buying an additional 1,367 shares during the last quarter. Procyon Private Wealth Partners LLC grew its stake in Taiwan Semiconductor Manufacturing by 13.6% during the 3rd quarter. Procyon Private Wealth Partners LLC now owns 2,949 shares of the semiconductor company’s stock worth $329,000 after buying an additional 352 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in Taiwan Semiconductor Manufacturing by 0.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 368,869 shares of the semiconductor company’s stock worth $5,836,000 after buying an additional 1,217 shares during the last quarter. Finally, Benson Investment Management Company Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing in the third quarter worth $4,343,000. 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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