Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 2% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) fell 2% during mid-day trading on Wednesday . The stock traded as low as $184.06 and last traded at $185.88. 4,053,383 shares were traded during trading, a decline of 74% from the average session volume of 15,332,519 shares. The stock had previously closed at $189.67.

Wall Street Analyst Weigh In

A number of research firms have commented on TSM. Barclays lifted their price objective on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the stock an “overweight” rating in a report on Monday. Susquehanna reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. StockNews.com lowered shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $214.00.

Taiwan Semiconductor Manufacturing Stock Performance

The company’s 50 day simple moving average is $187.57 and its 200 day simple moving average is $173.35. The stock has a market cap of $988.79 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 0.87 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.30 and a current ratio of 2.57.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%. The firm had revenue of $23.50 billion for the quarter, compared to analyst estimates of $22.72 billion. On average, equities research analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.5484 per share. This represents a $2.19 annualized dividend and a dividend yield of 1.15%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Tuesday, March 18th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 31.09%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the second quarter worth approximately $25,000. Reston Wealth Management LLC acquired a new position in Taiwan Semiconductor Manufacturing in the third quarter worth approximately $25,000. Olistico Wealth LLC bought a new position in 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 approximately $27,000. Finally, NewSquare Capital LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter worth $29,000. 16.51% of the stock is owned by hedge funds and other 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.