Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 1.5% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) dropped 1.5% during trading on Monday . The company traded as low as $287.55 and last traded at $287.7910. Approximately 11,906,447 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 14,265,642 shares. The stock had previously closed at $292.04.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TSM shares. Itau BBA Securities assumed coverage on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, October 7th. They set an “outperform” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $360.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Monday, October 27th. Citigroup reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 17th. Barclays upped their price objective on shares of Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Finally, Wall Street Zen raised Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Sunday. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $355.00.

Taiwan Semiconductor Manufacturing Stock Down 1.5%

The stock’s 50-day moving average price is $293.64 and its 200-day moving average price is $257.18. The company has a current ratio of 2.69, a quick ratio of 2.47 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.49 trillion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 1.00 and a beta of 1.31.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings results on Thursday, October 16th. The semiconductor company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.33. Taiwan Semiconductor Manufacturing had a return on equity of 34.34% and a net margin of 43.72%.The firm had revenue of $32.36 billion during the quarter, compared to the consensus estimate of $951.89 billion. During the same period last year, the business posted $1.94 EPS. The business’s revenue was up 40.1% compared to the same quarter last year. On average, sell-side analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 17th will be paid a $0.9678 dividend. This represents a $3.87 annualized dividend and a yield of 1.3%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, March 17th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 31.28%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Several large investors have recently made changes to their positions in the company. Heartwood Wealth Advisors LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the 3rd quarter worth $32,000. Cedar Wealth Management LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 91.4% during the third quarter. Cedar Wealth Management LLC now owns 134 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 64 shares during the last quarter. Fairman Group LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 171.2% during the third quarter. Fairman Group LLC now owns 141 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 89 shares in the last quarter. Resources Management Corp CT ADV bought a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter worth about $32,000. Finally, Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter worth about $33,000. 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.