Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 1.7% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price fell 1.7% during trading on Friday . The company traded as low as $165.40 and last traded at $165.45. 3,592,371 shares were traded during trading, a decline of 76% from the average session volume of 15,026,615 shares. The stock had previously closed at $168.24.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TSM. StockNews.com cut Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Needham & Company LLC restated a “buy” rating and set a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, February 18th. Finally, Barclays increased their price target on shares of Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $220.00.

Taiwan Semiconductor Manufacturing Price Performance

The firm has a market cap of $860.00 billion, a PE ratio of 23.55, a P/E/G ratio of 0.66 and a beta of 1.13. The firm’s fifty day simple moving average is $192.35 and its two-hundred day simple moving average is $192.55. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. As a group, research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be given a dividend of $0.6855 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $2.74 annualized dividend and a dividend yield of 1.65%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is currently 30.68%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSM. Stonebridge Financial Group LLC bought a new position in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth $25,000. IMG Wealth Management Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $26,000. Hopwood Financial Services Inc. purchased a new position in shares of Taiwan Semiconductor Manufacturing during the fourth quarter valued at about $27,000. Roxbury Financial LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth about $29,000. Finally, Accredited Wealth Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth about $31,000. 16.51% of the stock is currently 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.