Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 3.1% – Here’s Why

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) traded down 3.1% on Monday . The stock traded as low as $313.80 and last traded at $316.4650. 15,622,887 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 14,092,502 shares. The stock had previously closed at $326.74.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Monday, January 5th. Argus upgraded shares of Taiwan Semiconductor Manufacturing to a “strong-buy” rating in a research report on Thursday, January 15th. Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, January 9th. TD Cowen lifted their price objective on shares of Taiwan Semiconductor Manufacturing from $325.00 to $370.00 and gave the stock a “hold” rating in a research report on Friday, January 16th. Finally, Dbs Bank upgraded shares of Taiwan Semiconductor Manufacturing to a “moderate buy” rating in a research note on Friday, January 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing currently has an average rating of “Buy” and an average target price of $391.43.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a market capitalization of $1.64 trillion, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 0.90 and a beta of 1.29. The company has a 50 day simple moving average of $348.84 and a 200-day simple moving average of $313.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.62 and a quick ratio of 2.42.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings results on Thursday, February 26th. The semiconductor company reported $3.11 earnings per share for the quarter. Taiwan Semiconductor Manufacturing had a return on equity of 34.89% and a net margin of 45.13%.The company had revenue of $30.65 billion during the quarter. On average, equities analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 11th will be given a dividend of $0.9503 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, June 11th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is currently 28.36%.

Insider Buying and Selling at Taiwan Semiconductor Manufacturing

In other Taiwan Semiconductor Manufacturing news, VP Bor-Zen Tien purchased 1,000 shares of the stock in a transaction dated Sunday, March 22nd. The shares were bought at an average price of $55.93 per share, with a total value of $55,930.00. Following the completion of the transaction, the vice president directly owned 9,051 shares in the company, valued at approximately $506,222.43. This trade represents a 12.42% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Childress Capital Advisors LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 145.3% in the third quarter. Childress Capital Advisors LLC now owns 3,192 shares of the semiconductor company’s stock worth $891,000 after buying an additional 1,891 shares in the last quarter. Shannon River Fund Management LLC purchased a new position in Taiwan Semiconductor Manufacturing during the third quarter valued at approximately $2,430,000. Vanguard Personalized Indexing Management LLC increased its holdings in Taiwan Semiconductor Manufacturing by 9.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 101,876 shares of the semiconductor company’s stock worth $28,470,000 after acquiring an additional 8,738 shares during the period. Hantz Financial Services Inc. increased its holdings in Taiwan Semiconductor Manufacturing by 28.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 37,216 shares of the semiconductor company’s stock worth $10,394,000 after acquiring an additional 8,284 shares during the period. Finally, Hollencrest Capital Management lifted its stake in Taiwan Semiconductor Manufacturing by 125.3% in the 3rd quarter. Hollencrest Capital Management now owns 5,216 shares of the semiconductor company’s stock worth $1,457,000 after purchasing an additional 2,901 shares in the last quarter. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

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.