Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 1.6% – Here’s Why

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares dropped 1.6% during trading on Tuesday . The company traded as low as $190.70 and last traded at $191.00. Approximately 4,458,853 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 15,448,167 shares. The stock had previously closed at $194.05.

Analysts Set New Price Targets

Several research firms have commented on TSM. Needham & Company LLC restated 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 restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. TD Cowen lifted their price objective on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. StockNews.com upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Barclays lifted their price target on shares of Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $209.00.

Taiwan Semiconductor Manufacturing Price Performance

The stock’s fifty day moving average is $183.56 and its 200-day moving average is $170.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.57 and a quick ratio of 2.30. The stock has a market capitalization of $994.39 billion, a P/E ratio of 30.61, a PEG ratio of 0.97 and a beta of 1.12.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, October 17th. The semiconductor company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.30%. The business had revenue of $23.50 billion during the quarter, compared to analyst estimates of $22.72 billion. On average, equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.73 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.4871 per share. This represents a $1.95 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s payout ratio is currently 31.57%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Several hedge funds and other institutional investors have recently modified their holdings of the company. Okabena Investment Services Inc. grew its stake in shares of Taiwan Semiconductor Manufacturing by 1.7% in the third quarter. Okabena Investment Services Inc. now owns 29,884 shares of the semiconductor company’s stock valued at $5,190,000 after buying an additional 511 shares in the last quarter. Kingsview Wealth Management LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 5.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 16,935 shares of the semiconductor company’s stock valued at $2,941,000 after acquiring an additional 849 shares during the period. Cerity Partners LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 11.7% during the 3rd quarter. Cerity Partners LLC now owns 501,521 shares of the semiconductor company’s stock worth $87,099,000 after purchasing an additional 52,348 shares during the last quarter. Leelyn Smith LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 3rd quarter valued at about $4,551,000. Finally, Montrusco Bolton Investments Inc. acquired a new stake in Taiwan Semiconductor Manufacturing in the 3rd quarter valued at about $11,959,000. 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.