Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 2.4% – Here’s Why

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock price traded down 2.4% during trading on Wednesday . The stock traded as low as $178.82 and last traded at $179.40. 3,583,153 shares traded hands during trading, a decline of 77% from the average session volume of 15,263,490 shares. The stock had previously closed at $183.84.

Analyst Ratings Changes

Several research firms recently issued reports on TSM. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, October 17th. Susquehanna reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Barclays boosted their price objective on Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Finally, StockNews.com downgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.00.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.30 and a current ratio of 2.57. The stock has a market cap of $936.46 billion, a PE ratio of 28.75, a P/E/G ratio of 0.85 and a beta of 1.12. The firm’s 50-day moving average is $188.57 and its 200 day moving average is $174.66.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings results on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%. The firm had revenue of $23.50 billion for the quarter, compared to analysts’ expectations of $22.72 billion. As a group, research 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 announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.5484 per share. This represents a $2.19 dividend on an annualized basis and a dividend yield of 1.21%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Tuesday, March 18th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 31.57%.

Institutional Trading of Taiwan Semiconductor Manufacturing

A number of hedge funds have recently made changes to their positions in TSM. Franklin Resources Inc. boosted its holdings in Taiwan Semiconductor Manufacturing by 13.2% in the third quarter. Franklin Resources Inc. now owns 6,423,734 shares of the semiconductor company’s stock worth $1,234,706,000 after purchasing an additional 750,515 shares during the period. Peapack Gladstone Financial Corp boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 5.5% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 23,353 shares of the semiconductor company’s stock valued at $4,055,000 after buying an additional 1,207 shares during the period. Synovus Financial Corp raised its stake in Taiwan Semiconductor Manufacturing by 299.8% during the third quarter. Synovus Financial Corp now owns 30,955 shares of the semiconductor company’s stock worth $5,376,000 after acquiring an additional 23,213 shares during the period. Arvest Bank Trust Division acquired a new position in Taiwan Semiconductor Manufacturing during the 3rd quarter valued at about $345,000. Finally, World Investment Advisors LLC boosted its position in shares of Taiwan Semiconductor Manufacturing by 4,575.5% during the 3rd quarter. World Investment Advisors LLC now owns 55,638 shares of the semiconductor company’s stock valued at $9,663,000 after purchasing an additional 54,448 shares in the last quarter. Hedge funds and other 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.