Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 0.6% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares dropped 0.6% during mid-day trading on Tuesday . The stock traded as low as $198.75 and last traded at $199.15. Approximately 2,430,894 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 14,982,360 shares. The stock had previously closed at $200.39.

Analysts Set New Price Targets

TSM has been the topic of a number of recent analyst reports. 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 report on Monday, November 18th. StockNews.com cut Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, October 17th. Finally, Susquehanna reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.00.

Taiwan Semiconductor Manufacturing Stock Performance

The firm’s fifty day simple moving average is $195.18 and its 200 day simple moving average is $181.15. The company has a market capitalization of $1.03 trillion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Thursday, October 17th. The semiconductor company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.74 by $0.20. The business had revenue of $23.50 billion for the quarter, compared to analyst estimates of $22.72 billion. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%. On average, research analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be issued a $0.5484 dividend. This is a boost 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 1.11%. Taiwan Semiconductor Manufacturing’s payout ratio is presently 35.10%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Hedge funds have recently modified their holdings of the company. Graypoint LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter worth approximately $529,000. Aptus Capital Advisors LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 25.9% during the second quarter. Aptus Capital Advisors LLC now owns 2,233 shares of the semiconductor company’s stock valued at $388,000 after purchasing an additional 459 shares in the last quarter. Valmark Advisers Inc. grew its position in shares of Taiwan Semiconductor Manufacturing by 9.8% in the second quarter. Valmark Advisers Inc. now owns 5,689 shares of the semiconductor company’s stock valued at $989,000 after purchasing an additional 507 shares during the period. D.A. Davidson & CO. grew its position in shares of Taiwan Semiconductor Manufacturing by 9.8% in the second quarter. D.A. Davidson & CO. now owns 41,071 shares of the semiconductor company’s stock valued at $7,139,000 after purchasing an additional 3,649 shares during the period. Finally, Financial Counselors Inc. increased its stake in shares of Taiwan Semiconductor Manufacturing by 8.4% during the second quarter. Financial Counselors Inc. now owns 15,333 shares of the semiconductor company’s stock worth $2,665,000 after purchasing an additional 1,192 shares in the last quarter. 16.51% of the stock is owned by hedge funds and other institutional investors.

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.