Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) Sees Significant Increase in Short-Term Interest

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Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM – Get Rating) benefited from a sharp increase in short-term interest during the month of July. As of July 15, there was short interest totaling 21,400,000 shares, an increase of 44.9% from the June 30 total of 14,770,000 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily volume of 10,540,000 shares, the day-to-cover ratio is currently 2.0 days.

Institutional investors weigh in on Taiwan’s semiconductor manufacturing

Institutional investors have recently changed their positions in the stock. Rise Advisors LLC acquired a new position in Taiwan Semiconductor Manufacturing during Q4 for a value of approximately $26,000. Curi Wealth Management LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter, valued at around $28,000. Raleigh Capital Management Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing in the first quarter worth about $26,000. Rather & Kittrell Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter, valued at around $37,000. Finally, New England Inc.’s Retirement Planning Co bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter, valued at around $37,000.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of NYSE TSM traded down $0.13 in the midday session on Friday, hitting $88.48. 10,366,204 shares of the company were traded, against an average volume of 12,419,230. The company has a quick ratio of 1.85, a current ratio of 2.09 and a leverage ratio of 0.28. Taiwan Semiconductor Manufacturing has a 12-month low of $73.74 and a 12-month high of $145.00. The company’s 50-day moving average price is $86.51 and its 200-day moving average price is $100.30. The company has a market capitalization of $458.86 billion, a PE ratio of 17.08 and a beta of 0.99.

Taiwan Semiconductor Manufacturing (NYSE:TSM – Get Rating) last released its quarterly results on Thursday, July 14. The semiconductor company reported earnings per share of $1.55 for the quarter, beating the consensus estimate of $1.50 by $0.05. The company posted revenue of $18.16 billion in the quarter, compared to $18.68 billion expected by analysts. Taiwan Semiconductor Manufacturing recorded a return on equity of 34.31% and a net margin of 40.53%. As a group, analysts expect Taiwan Semiconductor Manufacturing to post earnings per share of 6.3 for the current fiscal year.

Taiwan’s semiconductor manufacturing boosts dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 13. Investors of record on Friday, September 16 will receive a dividend of $0.4625 per share. The ex-dividend date is Thursday, September 15. This represents a dividend of $1.85 on an annualized basis and a yield of 2.09%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.39. Taiwan Semiconductor Manufacturing’s payout ratio is currently 28.19%.

Changes to analyst ratings

A number of research analysts have recently commented on TSM stocks. Needham & Company LLC restated a “buy” rating and issued a target price of $125.00 on Taiwan Semiconductor Manufacturing stock in a research note on Thursday, April 14. Loop Capital began covering Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 21. They issued a “buy” rating for the company. Susquehanna cut its price target on Taiwan Semiconductor Manufacturing from $90.00 to $88.00 and set a “neutral” rating for the company in a Thursday, July 14 research note. Cowen set a target price of $100.00 on Taiwan Semiconductor Manufacturing in a Tuesday, July 19 research note. Finally, Susquehanna Bancshares lowered its price target on Taiwan Semiconductor Manufacturing from $90.00 to $88.00 and set a “neutral” rating on the stock in a Thursday, July 14 research report. Four investment analysts gave the stock a hold rating and six gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.14.

Taiwan Semiconductor Manufacturing Company Profile

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Taiwan Semiconductor Manufacturing Company Limited manufactures, packages, tests and sells integrated circuits and other semiconductor devices in Taiwan, China, Europe, the Middle East, Africa, Japan, the United States and the international. It provides complementary metal-oxide silicon wafer fabrication processes for fabricating logic, mixed-signal, radio frequency, and embedded memory semiconductors.

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