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

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares gapped down before the market opened on Monday . The stock had previously closed at $221.88, but opened at $197.04. Taiwan Semiconductor Manufacturing shares last traded at $196.22, with a volume of 21,190,791 shares traded.

Wall Street Analysts Forecast Growth

TSM has been the subject of a number of recent research reports. Barclays increased their price objective on Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, January 16th. Susquehanna reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Monday, January 20th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $220.00.

Taiwan Semiconductor Manufacturing Stock Performance

The business’s fifty day moving average price is $201.07 and its 200-day moving average price is $185.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30. The stock has a market capitalization of $989.65 billion, a PE ratio of 27.24, a P/E/G ratio of 0.74 and a beta of 1.07.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings results on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. As a group, equities research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 9.12 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be given 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 yield of 1.15%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 27.27%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of institutional investors and hedge funds have recently made changes to their positions in TSM. FMR LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 7.2% during the third quarter. FMR LLC now owns 55,974,769 shares of the semiconductor company’s stock valued at $9,721,138,000 after purchasing an additional 3,783,802 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Taiwan Semiconductor Manufacturing by 1.3% during the third quarter. Fisher Asset Management LLC now owns 28,767,106 shares of the semiconductor company’s stock valued at $4,995,984,000 after purchasing an additional 359,854 shares during the period. Van ECK Associates Corp increased its position in Taiwan Semiconductor Manufacturing by 0.7% in the third quarter. Van ECK Associates Corp now owns 18,289,993 shares of the semiconductor company’s stock worth $3,176,423,000 after buying an additional 122,828 shares in the last quarter. WCM Investment Management LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 14.1% during the 3rd quarter. WCM Investment Management LLC now owns 9,738,181 shares of the semiconductor company’s stock valued at $1,733,104,000 after buying an additional 1,206,359 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Taiwan Semiconductor Manufacturing by 72.9% in the 4th quarter. Jennison Associates LLC now owns 6,949,520 shares of the semiconductor company’s stock worth $1,372,461,000 after acquiring an additional 2,931,209 shares in the last quarter. Institutional investors own 16.51% of the company’s stock.

About Taiwan Semiconductor Manufacturing

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.