Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 3.4% – Should You Sell?

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock price was down 3.4% during mid-day trading on Thursday . The company traded as low as $187.66 and last traded at $187.79. Approximately 4,407,793 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 15,501,320 shares. The stock had previously closed at $194.48.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TSM. Barclays lifted their target price on Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Friday. 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. TD Cowen lifted their price target 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. Finally, Susquehanna reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 18th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Taiwan Semiconductor Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.00.

Taiwan Semiconductor Manufacturing Price Performance

The firm has a market cap of $1.00 trillion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 0.92 and a beta of 1.12. The company has a current ratio of 2.57, a quick ratio of 2.21 and a debt-to-equity ratio of 0.23. The business’s 50-day simple moving average is $180.45 and its two-hundred day simple moving average is $167.88.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced 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 a positive change 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 dividend yield of 1.01%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 31.57%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several institutional investors have recently added to or reduced their stakes in the business. Ted Buchan & Co lifted its position in shares of Taiwan Semiconductor Manufacturing by 19.6% during the 3rd quarter. Ted Buchan & Co now owns 5,486 shares of the semiconductor company’s stock valued at $953,000 after acquiring an additional 898 shares during the period. Transcendent Capital Group LLC bought a new stake in Taiwan Semiconductor Manufacturing in the third quarter valued at $52,000. Mesirow Financial Investment Management Inc. raised its holdings in shares of Taiwan Semiconductor Manufacturing by 2.4% during the third quarter. Mesirow Financial Investment Management Inc. now owns 14,425 shares of the semiconductor company’s stock valued at $2,505,000 after purchasing an additional 338 shares during the period. Atria Investments Inc boosted its position in shares of Taiwan Semiconductor Manufacturing by 3.9% during the 3rd quarter. Atria Investments Inc now owns 144,347 shares of the semiconductor company’s stock worth $25,069,000 after purchasing an additional 5,420 shares in the last quarter. Finally, TCTC Holdings LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 46.5% in the 3rd quarter. TCTC Holdings LLC now owns 1,883 shares of the semiconductor company’s stock valued at $327,000 after buying an additional 598 shares during the period. 16.51% of the stock is owned by institutional investors and hedge funds.

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.