Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 2% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was down 2% during trading on Tuesday . The company traded as low as $170.43 and last traded at $172.00. Approximately 3,972,423 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 15,082,544 shares. The stock had previously closed at $175.56.

Analyst Upgrades and Downgrades

TSM has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, February 18th. StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Barclays upped their target price on Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing has a consensus rating of “Moderate Buy” and a consensus target price of $220.00.

Taiwan Semiconductor Manufacturing Price Performance

The stock has a market capitalization of $899.22 billion, a PE ratio of 24.62, a P/E/G ratio of 0.66 and a beta of 1.13. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. The stock’s 50-day moving average is $198.35 and its 200 day moving average is $192.07.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. As a group, equities analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.6855 per share. This represents a $2.74 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, June 12th. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 30.68%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Accel Wealth Management lifted its stake in shares of Taiwan Semiconductor Manufacturing by 2.5% in the fourth quarter. Accel Wealth Management now owns 2,037 shares of the semiconductor company’s stock worth $402,000 after buying an additional 49 shares during the last quarter. FWG Holdings LLC raised its holdings in Taiwan Semiconductor Manufacturing by 1.6% in the 3rd quarter. FWG Holdings LLC now owns 3,106 shares of the semiconductor company’s stock worth $539,000 after acquiring an additional 50 shares during the period. Elmwood Wealth Management Inc. lifted its position in Taiwan Semiconductor Manufacturing by 3.7% during the 4th quarter. Elmwood Wealth Management Inc. now owns 1,405 shares of the semiconductor company’s stock worth $277,000 after acquiring an additional 50 shares during the last quarter. WP Advisors LLC boosted its holdings in Taiwan Semiconductor Manufacturing by 1.2% during the fourth quarter. WP Advisors LLC now owns 4,271 shares of the semiconductor company’s stock valued at $843,000 after acquiring an additional 50 shares during the period. Finally, Heritage Wealth Advisors grew its position in shares of Taiwan Semiconductor Manufacturing by 20.0% in the fourth quarter. Heritage Wealth Advisors now owns 300 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 50 shares during the last quarter. 16.51% of the stock is currently 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 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.