Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 1.6% – Should You Sell?

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price 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 trading, a decline of 71% from the average daily volume of 15,448,167 shares. The stock had previously closed at $194.05.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TSM shares. Barclays upped their price objective on shares of Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. TD Cowen raised their price objective on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, October 17th. Susquehanna reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Finally, StockNews.com raised Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Taiwan Semiconductor Manufacturing currently has a consensus rating of “Moderate Buy” and an average price target of $209.00.

Taiwan Semiconductor Manufacturing Price Performance

The firm has a 50 day moving average price of $183.56 and a two-hundred day moving average price of $170.99. The company has a market cap of $994.39 billion, a P/E ratio of 30.61, a P/E/G ratio of 0.97 and a beta of 1.12. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.30 and a current ratio of 2.57.

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

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a $0.4871 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.95 annualized dividend and a dividend yield of 1.02%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 31.57%.

Institutional Trading of Taiwan Semiconductor Manufacturing

A number of hedge funds have recently made changes to their positions in the stock. Atlantic Edge Private Wealth Management LLC purchased a new position in Taiwan Semiconductor Manufacturing in the 2nd quarter worth $25,000. Reston Wealth Management LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the 3rd quarter worth about $25,000. Olistico Wealth LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing during the second quarter valued at approximately $27,000. Valley Wealth Managers Inc. bought a new stake in Taiwan Semiconductor Manufacturing in the second quarter worth $27,000. Finally, NewSquare Capital LLC bought a new position in Taiwan Semiconductor Manufacturing in the 2nd quarter worth about $29,000. 16.51% of the stock is owned by institutional investors.

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.