Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 1.6% – Here’s Why

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares were down 1.6% during mid-day trading on Tuesday . The company traded as low as $190.70 and last traded at $191.00. Approximately 4,458,853 shares traded hands during trading, a decline of 71% from the average daily volume of 15,448,167 shares. The stock had previously closed at $194.05.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD Cowen raised their price target on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, October 17th. StockNews.com upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Barclays raised their price objective on Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Susquehanna restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $209.00.

Taiwan Semiconductor Manufacturing Stock Performance

The stock’s 50 day moving average price is $184.70 and its 200 day moving average price is $171.47. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $977.95 billion, a price-to-earnings ratio of 30.27, a P/E/G ratio of 0.91 and a beta of 1.12.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.30%. The firm had revenue of $23.50 billion for the quarter, compared to analyst estimates of $22.72 billion. Analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.73 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.5484 per share. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.19 dividend on an annualized basis and a dividend yield of 1.16%. Taiwan Semiconductor Manufacturing’s payout ratio is presently 31.09%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds have recently modified their holdings of TSM. ProShare Advisors LLC purchased a new position in Taiwan Semiconductor Manufacturing during the 1st quarter worth approximately $210,000. Koshinski Asset Management Inc. acquired a new position in Taiwan Semiconductor Manufacturing in the first quarter valued at about $480,000. TBH Global Asset Management LLC acquired a new position in Taiwan Semiconductor Manufacturing in the first quarter valued at about $266,000. Kingsview Wealth Management LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 4.0% during the first quarter. Kingsview Wealth Management LLC now owns 15,221 shares of the semiconductor company’s stock worth $2,071,000 after purchasing an additional 585 shares in the last quarter. Finally, HBK Sorce Advisory LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 16.9% during the first quarter. HBK Sorce Advisory LLC now owns 6,345 shares of the semiconductor company’s stock worth $863,000 after buying an additional 915 shares during the period. 16.51% of the stock is currently owned by institutional investors.

Taiwan Semiconductor Manufacturing Company Profile

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.