Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 0.9% – Here’s Why

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) dropped 0.9% during trading on Tuesday . The company traded as low as $200.52 and last traded at $201.96. Approximately 6,271,476 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 17,352,859 shares. The stock had previously closed at $203.90.

Analysts Set New Price Targets

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

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a 50 day moving average price of $205.35 and a two-hundred day moving average price of $189.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 0.70 and a beta of 1.06.

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

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.6855 per share. This represents a $2.74 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, June 12th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. Taiwan Semiconductor Manufacturing’s payout ratio is currently 27.27%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several institutional investors have recently modified their holdings of the stock. AMF Tjanstepension AB grew its holdings in shares of Taiwan Semiconductor Manufacturing by 4.8% in the 3rd quarter. AMF Tjanstepension AB now owns 1,533,207 shares of the semiconductor company’s stock valued at $266,300,000 after buying an additional 70,057 shares during the period. Capital Investment Advisors LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 20.8% during the third quarter. Capital Investment Advisors LLC now owns 3,145 shares of the semiconductor company’s stock worth $546,000 after purchasing an additional 541 shares during the period. Vest Financial LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 3rd quarter valued at approximately $1,373,000. Carrhae Capital LLP increased its stake in Taiwan Semiconductor Manufacturing by 24.0% during the 3rd quarter. Carrhae Capital LLP now owns 363,263 shares of the semiconductor company’s stock worth $63,088,000 after purchasing an additional 70,249 shares in the last quarter. Finally, Koss Olinger Consulting LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 12.9% in the third quarter. Koss Olinger Consulting LLC now owns 3,445 shares of the semiconductor company’s stock valued at $598,000 after buying an additional 394 shares during the period. 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.