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

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price traded down 1.7% during trading on Tuesday . The company traded as low as $197.46 and last traded at $198.56. 4,288,440 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 15,571,337 shares. The stock had previously closed at $201.95.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TSM shares. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, October 17th. TD Cowen lifted their target price on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Finally, Susquehanna reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Taiwan Semiconductor Manufacturing presently has an average rating of “Moderate Buy” and an average price target of $200.00.

Taiwan Semiconductor Manufacturing Price Performance

The company has a current ratio of 2.47, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $1.03 trillion, a PE ratio of 31.82, a PEG ratio of 1.16 and a beta of 1.14. The company’s 50 day moving average price is $176.00 and its 200-day moving average price is $164.86.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be paid a dividend of $0.4871 per share. The ex-dividend date is Thursday, December 12th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $1.95 annualized dividend and a yield of 0.98%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 31.57%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings in shares of Taiwan Semiconductor Manufacturing by 53.4% during the 1st quarter. Van ECK Associates Corp now owns 17,416,194 shares of the semiconductor company’s stock valued at $2,369,473,000 after buying an additional 6,060,511 shares during the period. Capital International Investors boosted its stake in shares of Taiwan Semiconductor Manufacturing by 40.2% in the first quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock valued at $2,679,602,000 after purchasing an additional 5,643,949 shares during the period. PineStone Asset Management Inc. increased its stake in Taiwan Semiconductor Manufacturing by 116.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,784,316 shares of the semiconductor company’s stock worth $1,352,992,000 after buying an additional 4,186,133 shares during the period. Clearbridge Investments LLC boosted its position in Taiwan Semiconductor Manufacturing by 669.7% in the 2nd quarter. Clearbridge Investments LLC now owns 3,721,489 shares of the semiconductor company’s stock valued at $646,832,000 after buying an additional 3,237,998 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of 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 acquiring an additional 1,834,298 shares in the last quarter. Hedge funds and other institutional investors own 16.51% of the company’s stock.

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.