Taiwan Semiconductor Manufacturing reported a quarterly net profit of $14.32 per share on revenue of $32.5 billion, marking a new earnings high. The company achieved a net margin of 45.13% and a return on equity of 36.18%, reflecting robust demand for its advanced process nodes used in artificial intelligence and high-performance computing. This performance not only exceeded consensus revenue estimates by over 5% but also demonstrated that TSMC’s conservative capex strategy continues to deliver strong profitability.

During the third quarter, Dupree Financial Group reduced its holdings by 9,110 shares to 10,476 shares, representing a disposal of $2.926 million in market value. At the same time, newer positions were established by Heartwood Wealth Advisors and Resources Management Corp, each investing approximately $32,000, and Riggs Asset Management contributed roughly $41,000. First Command Advisory Services notably increased its stake by 174.1%, acquiring an additional 101 shares for a total position valued at $36,000. Institutional ownership now stands at 16.51%, indicating selective repositioning rather than broad-scale exits.

The board approved a quarterly dividend of $0.9678 per share, up from $0.83, to be paid on April 9th to shareholders of record March 17th. This adjustment equates to an annualized payout of $3.87 and a yield of 1.1%, with a payout ratio of 28.64%. Management cited strong free cash flow generation and a healthy balance sheet—with a debt-to-equity ratio of 0.19 and a current ratio of 2.69—as the basis for this distribution increase.

In recent weeks, eight research firms have reiterated buy ratings, including one upgrade from hold to buy, while two maintain hold recommendations. Consensus target prices average $381.67, implying upside of over 10% from current levels. Notable moves include Susquehanna lifting its target to $400 and Goldman Sachs reaffirming its buy stance. The aggregate consensus rating remains at Moderate Buy, reflecting confidence in TSMC’s leadership in advanced-node capacity expansion and long-term secular tailwinds from AI deployment.