Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Gap Down to $139.03

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) gapped down prior to trading on Thursday . The stock had previously closed at $139.03, but opened at $132.89. Taiwan Semiconductor Manufacturing shares last traded at $131.63, with a volume of 12,231,429 shares traded.

Analysts Set New Price Targets

TSM has been the topic of a number of research reports. StockNews.com raised shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Needham & Company LLC reissued a “buy” rating and set a $168.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday. Barclays increased their target price on shares of Taiwan Semiconductor Manufacturing from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Susquehanna increased their target price on shares of Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Tuesday, April 2nd. Finally, TD Cowen increased their target price on shares of Taiwan Semiconductor Manufacturing from $85.00 to $95.00 and gave the stock a “market perform” rating in a research report on Friday, January 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Taiwan Semiconductor Manufacturing Price Performance

The stock has a market capitalization of $693.99 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 1.07 and a beta of 1.15. The company’s 50-day simple moving average is $136.64 and its 200 day simple moving average is $112.61. The company has a quick ratio of 2.13, a current ratio of 2.40 and a debt-to-equity ratio of 0.26.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings results on Thursday, January 18th. The semiconductor company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.07. The company had revenue of $19.62 billion for the quarter, compared to the consensus estimate of $18.99 billion. Taiwan Semiconductor Manufacturing had a return on equity of 25.24% and a net margin of 38.80%. Equities research analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.15 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 13th will be given a $0.4408 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, June 13th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 33.20%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Taiwan Semiconductor Manufacturing by 30.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,381,845 shares of the semiconductor company’s stock valued at $144,071,000 after buying an additional 318,570 shares during the period. Zions Bancorporation N.A. lifted its stake in shares of Taiwan Semiconductor Manufacturing by 29.2% in the first quarter. Zions Bancorporation N.A. now owns 597 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 135 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of Taiwan Semiconductor Manufacturing by 40.1% in the first quarter. Brown Brothers Harriman & Co. now owns 12,700 shares of the semiconductor company’s stock valued at $1,324,000 after buying an additional 3,638 shares during the period. Merit Financial Group LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 17.3% in the first quarter. Merit Financial Group LLC now owns 2,350 shares of the semiconductor company’s stock valued at $245,000 after buying an additional 346 shares during the period. Finally, Ergoteles LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 138.6% in the first quarter. Ergoteles LLC now owns 45,497 shares of the semiconductor company’s stock valued at $4,744,000 after buying an additional 26,426 shares during the period. 16.51% of the stock is owned by institutional investors and hedge funds.

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 complementary metal oxide silicon wafer fabrication processes to manufacture logic, mixed-signal, radio frequency, and embedded memory semiconductors.