Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 1.8% – Here’s What Happened

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) were down 1.8% during mid-day trading on Thursday . The company traded as low as $169.50 and last traded at $170.43. Approximately 5,548,532 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 16,851,619 shares. The stock had previously closed at $173.50.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSM. StockNews.com lowered shares of 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 issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, February 18th. Finally, Barclays increased their target price on Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.00.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a market capitalization of $860.00 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 0.66 and a beta of 1.13. The stock’s 50-day simple moving average is $192.35 and its 200 day simple moving average is $192.34. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Thursday, January 16th. The semiconductor company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. Analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be given a dividend of $0.6855 per share. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, June 12th. This represents a $2.74 annualized dividend and a yield of 1.65%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 30.68%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Accel Wealth Management increased its holdings in shares of Taiwan Semiconductor Manufacturing by 2.5% in the fourth quarter. Accel Wealth Management now owns 2,037 shares of the semiconductor company’s stock valued at $402,000 after purchasing an additional 49 shares in the last quarter. Elmwood Wealth Management Inc. lifted its stake in shares of Taiwan Semiconductor Manufacturing by 3.7% during the fourth quarter. Elmwood Wealth Management Inc. now owns 1,405 shares of the semiconductor company’s stock valued at $277,000 after acquiring an additional 50 shares during the period. WP Advisors LLC boosted its holdings in Taiwan Semiconductor Manufacturing by 1.2% in the fourth quarter. WP Advisors LLC now owns 4,271 shares of the semiconductor company’s stock valued at $843,000 after acquiring an additional 50 shares during the last quarter. Heritage Wealth Advisors increased its position in Taiwan Semiconductor Manufacturing by 20.0% in the fourth quarter. Heritage Wealth Advisors now owns 300 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 50 shares during the period. Finally, First Heartland Consultants Inc. raised its holdings in Taiwan Semiconductor Manufacturing by 4.2% during the 4th quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company’s stock worth $244,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds 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.