Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 3.7%

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) dropped 3.7% on Thursday . The stock traded as low as $130.30 and last traded at $133.83. Approximately 21,689,818 shares traded hands during mid-day trading, an increase of 40% from the average daily volume of 15,456,622 shares. The stock had previously closed at $139.03.

Analyst Upgrades and Downgrades

TSM has been the subject of several analyst reports. Susquehanna upped their target price on shares of Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Tuesday, April 2nd. Needham & Company LLC restated a “buy” rating and issued a $168.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday. TD Cowen upped their target price on shares of Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Thursday. StockNews.com upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Finally, Barclays increased their price objective on shares of Taiwan Semiconductor Manufacturing from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and an average price target of $155.75.

Taiwan Semiconductor Manufacturing Stock Down 4.6 %

The company has a current ratio of 2.40, a quick ratio of 2.13 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $687.77 billion, a P/E ratio of 25.59, a P/E/G ratio of 1.07 and a beta of 1.15. The stock’s 50 day simple moving average is $136.64 and its 200 day simple moving average is $112.61.

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

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 13th will be paid a $0.4408 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.76 annualized dividend and a dividend yield of 1.33%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 33.20%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds have recently made changes to their positions in TSM. Johnson Financial Group Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $25,000. Financial Gravity Asset Management Inc. grew its stake in shares of Taiwan Semiconductor Manufacturing by 208.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 312 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 211 shares during the last quarter. MBM Wealth Consultants LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $27,000. Sachetta LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth approximately $29,000. Finally, PCA Investment Advisory Services Inc. purchased a new position in shares of Taiwan Semiconductor Manufacturing in the second quarter worth approximately $29,000. Institutional investors and hedge funds 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 complementary metal oxide silicon wafer fabrication processes to manufacture logic, mixed-signal, radio frequency, and embedded memory semiconductors.