Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 1.9% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares dropped 1.9% on Wednesday . The company traded as low as $205.92 and last traded at $207.44. Approximately 6,087,697 shares traded hands during trading, a decline of 55% from the average daily volume of 13,661,276 shares. The stock had previously closed at $211.42.

Analyst Upgrades and Downgrades

TSM has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, October 17th. Susquehanna reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 18th. Barclays raised their price target on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Taiwan Semiconductor Manufacturing presently has an average rating of “Moderate Buy” and an average price target of $214.00.

Taiwan Semiconductor Manufacturing Price Performance

The stock has a 50 day moving average of $196.05 and a two-hundred day moving average of $182.61. The stock has a market cap of $1.07 trillion, a PE ratio of 33.21, a PEG ratio of 0.93 and a beta of 1.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.30 and a current ratio of 2.57.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings data on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.44%. The firm had revenue of $23.50 billion during the quarter, compared to analysts’ expectations of $22.72 billion. Equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 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. Investors of record on Tuesday, March 18th will be given a dividend of $0.5484 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $2.19 dividend on an annualized basis and a yield of 1.06%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 35.10%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds have recently added to or reduced their stakes in TSM. Trust Co of the South grew its stake in shares of Taiwan Semiconductor Manufacturing by 232.8% during the fourth quarter. Trust Co of the South now owns 8,869 shares of the semiconductor company’s stock valued at $1,752,000 after purchasing an additional 6,204 shares during the last quarter. HF Advisory Group LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 55.5% in the 3rd quarter. HF Advisory Group LLC now owns 13,755 shares of the semiconductor company’s stock valued at $2,389,000 after buying an additional 4,907 shares during the period. NRI Wealth Management LC bought a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth $1,545,000. Impax Asset Management Group plc lifted its stake in shares of Taiwan Semiconductor Manufacturing by 33.7% during the third quarter. Impax Asset Management Group plc now owns 26,418 shares of the semiconductor company’s stock valued at $4,588,000 after acquiring an additional 6,664 shares during the period. Finally, Advisor Resource Council acquired a new stake in Taiwan Semiconductor Manufacturing in the third quarter worth about $613,000. Institutional investors own 16.51% of the company’s stock.

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.