Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 1.7% – Here’s Why

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was down 1.7% on Wednesday . The company traded as low as $203.01 and last traded at $205.11. Approximately 2,956,205 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 17,445,387 shares. The stock had previously closed at $208.74.

Analyst Ratings Changes

TSM has been the subject of a number of recent analyst reports. Barclays boosted their price objective on Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. StockNews.com cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Susquehanna reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Taiwan Semiconductor Manufacturing presently has an average rating of “Moderate Buy” and a consensus price target of $220.00.

Taiwan Semiconductor Manufacturing Stock Down 1.3 %

The stock has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 0.70 and a beta of 1.06. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. The business’s 50-day moving average is $205.18 and its two-hundred day moving average is $188.45.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its earnings results on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. Equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 9.12 EPS for the current year.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Hedge funds and other institutional investors have recently bought and sold shares of the company. Reston Wealth Management LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the 3rd quarter worth approximately $25,000. Stonebridge Financial Group LLC acquired a new stake in Taiwan Semiconductor Manufacturing during the fourth quarter worth $25,000. IMG Wealth Management Inc. purchased a new stake in Taiwan Semiconductor Manufacturing in the fourth quarter valued at $26,000. Hopwood Financial Services Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter valued at $27,000. Finally, Roxbury Financial LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth $29,000. 16.51% of the stock is currently owned by institutional investors and hedge funds.

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.