Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 0.9% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) dropped 0.9% on Friday . The stock traded as low as $173.79 and last traded at $175.79. Approximately 2,275,907 shares traded hands during trading, a decline of 85% from the average daily volume of 15,021,387 shares. The stock had previously closed at $177.47.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TSM. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, February 18th. Barclays upped their target price on shares of Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, StockNews.com cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $220.00.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30. The business has a 50 day moving average price of $196.31 and a 200 day moving average price of $191.85. The stock has a market capitalization of $917.00 billion, a PE ratio of 25.11, a PEG ratio of 0.66 and a beta of 1.13.

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

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be given a dividend of $0.6855 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $2.74 annualized dividend and a dividend yield of 1.55%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 30.68%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Institutional investors have recently added to or reduced their stakes in the business. Prospera Private Wealth LLC purchased a new position in Taiwan Semiconductor Manufacturing in the 3rd quarter worth about $295,000. Segall Bryant & Hamill LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 2.6% during the third quarter. Segall Bryant & Hamill LLC now owns 83,081 shares of the semiconductor company’s stock valued at $14,429,000 after purchasing an additional 2,101 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Taiwan Semiconductor Manufacturing by 3.1% during the third quarter. First Horizon Advisors Inc. now owns 8,181 shares of the semiconductor company’s stock valued at $1,421,000 after purchasing an additional 247 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Taiwan Semiconductor Manufacturing by 14.8% in the third quarter. EverSource Wealth Advisors LLC now owns 8,449 shares of the semiconductor company’s stock worth $1,467,000 after purchasing an additional 1,091 shares during the last quarter. Finally, King Luther Capital Management Corp grew its position in Taiwan Semiconductor Manufacturing by 1.5% in the 3rd quarter. King Luther Capital Management Corp now owns 6,913 shares of the semiconductor company’s stock worth $1,201,000 after purchasing an additional 101 shares during the period. 16.51% of the stock is currently 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.