Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 3.1% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price dropped 3.1% on Wednesday . The stock traded as low as $188.50 and last traded at $189.74. Approximately 8,961,988 shares traded hands during trading, a decline of 42% from the average daily volume of 15,456,883 shares. The stock had previously closed at $195.76.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. TD Cowen raised their price target on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Barclays raised their target price on Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com cut Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, October 17th. Finally, Susquehanna restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.00.

Taiwan Semiconductor Manufacturing Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.30 and a current ratio of 2.57. The stock has a market cap of $1.00 trillion, a P/E ratio of 30.99, a P/E/G ratio of 0.93 and a beta of 1.12. The company has a 50-day simple moving average of $181.89 and a 200-day simple moving average of $169.35.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.4871 per share. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.95 annualized dividend and a yield of 1.01%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 31.57%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSM. Capital International Investors raised its position in Taiwan Semiconductor Manufacturing by 40.2% in the 1st quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock worth $2,679,602,000 after purchasing an additional 5,643,949 shares during the last quarter. PineStone Asset Management Inc. raised its position in shares of Taiwan Semiconductor Manufacturing by 116.3% during the second quarter. PineStone Asset Management Inc. now owns 7,784,316 shares of the semiconductor company’s stock worth $1,352,992,000 after acquiring an additional 4,186,133 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 669.7% during the second quarter. Clearbridge Investments LLC now owns 3,721,489 shares of the semiconductor company’s stock valued at $646,832,000 after acquiring an additional 3,237,998 shares during the period. 1832 Asset Management L.P. boosted its holdings in Taiwan Semiconductor Manufacturing by 1,226.7% in the second quarter. 1832 Asset Management L.P. now owns 1,983,830 shares of the semiconductor company’s stock valued at $344,809,000 after acquiring an additional 1,834,298 shares during the last quarter. Finally, GQG Partners LLC increased its position in Taiwan Semiconductor Manufacturing by 25.1% in the first quarter. GQG Partners LLC now owns 8,538,277 shares of the semiconductor company’s stock worth $1,161,633,000 after purchasing an additional 1,710,673 shares during the period. Institutional investors and hedge funds 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.