Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 4%

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was down 4% during mid-day trading on Wednesday . The company traded as low as $162.45 and last traded at $163.03. Approximately 6,282,009 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 15,696,789 shares. The stock had previously closed at $169.82.

Wall Street Analysts Forecast Growth

TSM has been the subject of a number of recent analyst reports. StockNews.com upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Barclays boosted their price target on shares of Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. Sanford C. Bernstein raised their price objective on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. TD Cowen raised their target price on 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, Needham & Company LLC upped their target price on Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.00.

Taiwan Semiconductor Manufacturing Stock Up 0.3 %

The firm has a market cap of $831.28 billion, a P/E ratio of 30.54, a P/E/G ratio of 0.95 and a beta of 1.14. The business’s fifty day moving average price is $169.46 and its two-hundred day moving average price is $144.49. The company has a current ratio of 2.39, a quick ratio of 2.13 and a debt-to-equity ratio of 0.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. The company had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.33 billion. Taiwan Semiconductor Manufacturing had a return on equity of 25.89% and a net margin of 37.85%. The business’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 earnings per share. As a group, equities research analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.37 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Thursday, September 12th will be paid a $0.4865 dividend. This represents a $1.95 dividend on an annualized basis and a dividend yield of 1.21%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, September 12th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 32.57%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds have recently made changes to their positions in TSM. Van ECK Associates Corp grew its holdings in shares of Taiwan Semiconductor Manufacturing by 53.4% during the 1st quarter. Van ECK Associates Corp now owns 17,416,194 shares of the semiconductor company’s stock worth $2,369,473,000 after purchasing an additional 6,060,511 shares in the last quarter. Capital International Investors raised its stake in shares of Taiwan Semiconductor Manufacturing by 40.2% in the 1st quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock valued at $2,679,602,000 after buying an additional 5,643,949 shares in the last quarter. Capital World Investors lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 11.4% during the 4th quarter. Capital World Investors now owns 41,356,279 shares of the semiconductor company’s stock worth $4,301,178,000 after acquiring an additional 4,240,928 shares during the period. PineStone Asset Management Inc. boosted its position in shares of Taiwan Semiconductor Manufacturing by 116.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,784,316 shares of the semiconductor company’s stock valued at $1,352,992,000 after acquiring an additional 4,186,133 shares in the last quarter. Finally, Harding Loevner LP increased its stake in Taiwan Semiconductor Manufacturing by 20.9% in the fourth quarter. Harding Loevner LP now owns 11,616,715 shares of the semiconductor company’s stock valued at $1,222,768,000 after acquiring an additional 2,008,043 shares during the period. Institutional investors own 16.51% of the company’s stock.

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.