Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 1.5%

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price dropped 1.5% on Monday . The stock traded as low as $171.10 and last traded at $171.85. Approximately 3,914,312 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 16,107,310 shares. The stock had previously closed at $174.54.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TSM. Susquehanna reaffirmed a “positive” rating and set a $250.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Wednesday, August 14th. Needham & Company LLC lifted their price objective on shares of Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. TD Cowen boosted their target price on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Sanford C. Bernstein raised their target price on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Finally, Barclays upped their price target on Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.00.

Taiwan Semiconductor Manufacturing Stock Performance

The firm’s 50-day moving average price is $171.29 and its two-hundred day moving average price is $150.99. The company has a quick ratio of 2.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $898.65 billion, a PE ratio of 32.73, a P/E/G ratio of 1.00 and a beta of 1.14.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, July 18th. The semiconductor company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. Taiwan Semiconductor Manufacturing had a return on equity of 25.89% and a net margin of 37.85%. The firm had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.33 billion. During the same period last year, the company posted $1.14 EPS. The business’s quarterly revenue was up 34.6% compared to the same quarter last year. As a group, research analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.44 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be paid a $0.4871 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.95 dividend on an annualized basis and a yield of 1.12%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s payout ratio is 32.57%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds have recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $37,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Taiwan Semiconductor Manufacturing by 1.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,961 shares of the semiconductor company’s stock valued at $1,452,000 after purchasing an additional 150 shares during the last quarter. Xponance Inc. raised its position in shares of Taiwan Semiconductor Manufacturing by 50.1% in the fourth quarter. Xponance Inc. now owns 4,663 shares of the semiconductor company’s stock valued at $485,000 after purchasing an additional 1,557 shares during the period. abrdn plc lifted its stake in shares of Taiwan Semiconductor Manufacturing by 3.1% in the fourth quarter. abrdn plc now owns 347,174 shares of the semiconductor company’s stock worth $36,106,000 after buying an additional 10,559 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 9.0% during the 4th quarter. Lindbrook Capital LLC now owns 10,175 shares of the semiconductor company’s stock worth $1,058,000 after buying an additional 844 shares during the period. 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 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.