Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 1.7% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price dropped 1.7% during trading on Tuesday . The stock traded as low as $197.46 and last traded at $198.56. Approximately 4,288,440 shares traded hands during trading, a decline of 72% from the average daily volume of 15,571,337 shares. The stock had previously closed at $201.95.

Analyst Ratings Changes

Several brokerages recently commented on TSM. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, October 17th. Susquehanna reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. TD Cowen increased their target price on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Finally, Barclays boosted their price target on shares of Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.00.

Taiwan Semiconductor Manufacturing Price Performance

The stock has a 50-day simple moving average of $177.14 and a 200 day simple moving average of $165.51. The stock has a market capitalization of $1.04 trillion, a P/E ratio of 32.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.47.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a $0.4871 dividend. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, December 12th. This represents a $1.95 annualized dividend and a yield of 0.97%. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is currently 31.57%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Defender Capital LLC. boosted its stake in Taiwan Semiconductor Manufacturing by 3.7% in the third quarter. Defender Capital LLC. now owns 1,565 shares of the semiconductor company’s stock valued at $272,000 after acquiring an additional 56 shares during the last quarter. Seed Wealth Management Inc. lifted its stake in shares of Taiwan Semiconductor Manufacturing by 1.3% in the 2nd quarter. Seed Wealth Management Inc. now owns 4,558 shares of the semiconductor company’s stock valued at $792,000 after purchasing an additional 57 shares during the period. Keudell Morrison Wealth Management boosted its position in shares of Taiwan Semiconductor Manufacturing by 1.5% in the 2nd quarter. Keudell Morrison Wealth Management now owns 4,027 shares of the semiconductor company’s stock worth $700,000 after purchasing an additional 59 shares during the last quarter. Heron Bay Capital Management grew its stake in shares of Taiwan Semiconductor Manufacturing by 1.0% during the second quarter. Heron Bay Capital Management now owns 5,710 shares of the semiconductor company’s stock worth $992,000 after purchasing an additional 59 shares during the period. Finally, Azzad Asset Management Inc. ADV increased its holdings in Taiwan Semiconductor Manufacturing by 0.4% in the third quarter. Azzad Asset Management Inc. ADV now owns 14,166 shares of the semiconductor company’s stock valued at $2,460,000 after purchasing an additional 63 shares during the last quarter. 16.51% of the stock is owned by 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.