Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 6.3% – What’s Next?

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) dropped 6.3% during trading on Thursday . The company traded as low as $159.04 and last traded at $159.58. Approximately 9,934,319 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 15,271,914 shares. The stock had previously closed at $170.39.

Analysts Set New Price Targets

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

Taiwan Semiconductor Manufacturing Price Performance

The stock has a market cap of $816.24 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 0.66 and a beta of 1.16. The company has a 50 day simple moving average of $189.38 and a 200-day simple moving average of $192.49. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, January 16th. The semiconductor company reported $2.24 EPS for the quarter, beating 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%. Research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be paid a $0.6855 dividend. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. This represents a $2.74 annualized dividend and a yield of 1.74%. The ex-dividend date is Thursday, June 12th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 30.68%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of large investors have recently modified their holdings of the business. Stonebridge Financial Group LLC acquired a new position in Taiwan Semiconductor Manufacturing during the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the 4th quarter valued at approximately $26,000. Hopwood Financial Services Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter valued at $27,000. Accredited Wealth Management LLC acquired a new position in Taiwan Semiconductor Manufacturing during the fourth quarter worth $31,000. Finally, Roxbury Financial LLC bought a new stake in Taiwan Semiconductor Manufacturing during the fourth 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.