Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 1% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price traded down 1% during mid-day trading on Tuesday . The company traded as low as $204.55 and last traded at $205.27. 3,893,859 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 15,077,289 shares. The stock had previously closed at $207.36.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TSM shares. Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 18th. Barclays lifted their price target on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. StockNews.com lowered shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $214.00.

Taiwan Semiconductor Manufacturing Price Performance

The business’s 50 day moving average price is $194.46 and its 200-day moving average price is $180.13. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.07 trillion, a PE ratio of 33.07, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.20. The firm had revenue of $23.50 billion for the quarter, compared to the consensus estimate of $22.72 billion. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.44%. As a group, analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 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, April 10th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.5484 per share. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $2.19 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Tuesday, March 18th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 35.10%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 7.2% in the 3rd quarter. FMR LLC now owns 55,974,769 shares of the semiconductor company’s stock worth $9,721,138,000 after purchasing an additional 3,783,802 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 669.7% during the 2nd quarter. Clearbridge Investments LLC now owns 3,721,489 shares of the semiconductor company’s stock valued at $646,832,000 after purchasing an additional 3,237,998 shares during the period. 1832 Asset Management L.P. lifted its stake in Taiwan Semiconductor Manufacturing by 1,226.7% during the second quarter. 1832 Asset Management L.P. now owns 1,983,830 shares of the semiconductor company’s stock valued at $344,809,000 after purchasing an additional 1,834,298 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Taiwan Semiconductor Manufacturing by 799.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,899,088 shares of the semiconductor company’s stock worth $329,815,000 after acquiring an additional 1,687,886 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the third quarter worth $229,098,000. 16.51% of the stock is currently owned by institutional investors and hedge funds.

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.