Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 2.3% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock price fell 2.3% during mid-day trading on Wednesday . The company traded as low as $187.27 and last traded at $187.27. 4,665,208 shares were traded during trading, a decline of 70% from the average session volume of 15,432,608 shares. The stock had previously closed at $191.77.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, October 17th. Susquehanna reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Barclays increased their price objective on Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, TD Cowen boosted their target price on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.00.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a market cap of $977.95 billion, a price-to-earnings ratio of 30.22, a P/E/G ratio of 0.89 and a beta of 1.12. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.57 and a quick ratio of 2.30. The firm has a fifty day simple moving average of $184.70 and a 200 day simple moving average of $171.47.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its earnings results on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.30%. The business had revenue of $23.50 billion for the quarter, compared to analyst estimates of $22.72 billion. On average, sell-side analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.73 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Tuesday, March 18th will be paid a dividend of $0.5484 per share. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.19 annualized dividend and a yield of 1.16%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 31.57%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TSM. ProShare Advisors LLC bought a new stake in Taiwan Semiconductor Manufacturing in the 1st quarter valued at $210,000. Kingsview Wealth Management LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 4.0% during the first quarter. Kingsview Wealth Management LLC now owns 15,221 shares of the semiconductor company’s stock valued at $2,071,000 after buying an additional 585 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in shares of Taiwan Semiconductor Manufacturing in the first quarter valued at about $150,000. Blair William & Co. IL grew its position in Taiwan Semiconductor Manufacturing by 5.4% during the first quarter. Blair William & Co. IL now owns 64,105 shares of the semiconductor company’s stock worth $8,721,000 after buying an additional 3,262 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its stake in Taiwan Semiconductor Manufacturing by 6.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 7,950 shares of the semiconductor company’s stock valued at $1,082,000 after acquiring an additional 502 shares during the period. 16.51% of the stock is owned by institutional investors.

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.