Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 3% – Here’s Why

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) traded down 3% during trading on Wednesday . The company traded as low as $319.07 and last traded at $325.65. 18,027,372 shares traded hands during mid-day trading, an increase of 19% from the average session volume of 15,155,096 shares. The stock had previously closed at $335.75.

Wall Street Analysts Forecast Growth

Several analysts have commented on TSM shares. Argus upgraded shares of Taiwan Semiconductor Manufacturing to a “strong-buy” rating in a research note on Thursday, January 15th. UBS Group set a $330.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Sunday, December 7th. Dbs Bank raised Taiwan Semiconductor Manufacturing to a “moderate buy” rating in a research report on Friday, January 23rd. Itau BBA Securities assumed coverage on Taiwan Semiconductor Manufacturing in a report on Tuesday, October 7th. They issued an “outperform” rating for the company. Finally, Needham & Company LLC raised their target price on Taiwan Semiconductor Manufacturing from $360.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $381.67.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.47 and a current ratio of 2.69. The firm’s 50 day moving average price is $311.88 and its 200-day moving average price is $282.71. The firm has a market capitalization of $1.69 trillion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 0.96 and a beta of 1.31.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Friday, November 14th. The semiconductor company reported $14.32 earnings per share for the quarter. Taiwan Semiconductor Manufacturing had a return on equity of 36.18% and a net margin of 45.13%.The company had revenue of $32.50 billion during the quarter. On average, research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS 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. Investors of record on Tuesday, March 17th will be paid a $0.9678 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $3.87 dividend on an annualized basis and a yield of 1.2%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 23.57%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of large investors have recently added to or reduced their stakes in TSM. Jennison Associates LLC raised its stake in Taiwan Semiconductor Manufacturing by 26.7% in the 2nd quarter. Jennison Associates LLC now owns 12,046,792 shares of the semiconductor company’s stock valued at $2,728,478,000 after purchasing an additional 2,537,760 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Taiwan Semiconductor Manufacturing by 43.2% during the second quarter. Brown Advisory Inc. now owns 6,650,983 shares of the semiconductor company’s stock worth $1,506,389,000 after buying an additional 2,006,745 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Taiwan Semiconductor Manufacturing by 109.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,526,160 shares of the semiconductor company’s stock valued at $798,640,000 after buying an additional 1,842,951 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Taiwan Semiconductor Manufacturing by 268.2% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,499,677 shares of the semiconductor company’s stock worth $566,152,000 after buying an additional 1,820,852 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Taiwan Semiconductor Manufacturing by 18.0% in the second quarter. Alliancebernstein L.P. now owns 10,457,800 shares of the semiconductor company’s stock worth $2,368,587,000 after buying an additional 1,593,786 shares in the last quarter. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Company Profile

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC’s service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.