Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 1.7% - Here's What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report)'s share price was down 1.7% during trading on Friday . The company traded as low as $165.40 and last traded at $165.45. Approximately 3,592,371 shares traded hands during trading, a decline of 76% from the average daily volume of 15,026,615 shares. The stock had previously closed at $168.24.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TSM. Barclays boosted their price target on shares of 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 lowered shares of Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Finally, Needham & Company LLC reiterated a "buy" rating and issued 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $220.00.

Taiwan Semiconductor Manufacturing Stock Performance

The firm has a fifty day simple moving average of $192.35 and a 200-day simple moving average of $192.71. 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 company has a market cap of $861.27 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 0.66 and a beta of 1.13.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The semiconductor company reported $2.24 EPS 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%. On average, research analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently disclosed 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. 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. This represents a $2.74 dividend on an annualized basis and a yield of 1.65%. Taiwan Semiconductor Manufacturing's payout ratio is currently 30.68%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Stonebridge Financial Group LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter valued at approximately $25,000. IMG Wealth Management Inc. purchased a new position in Taiwan Semiconductor Manufacturing in the 4th quarter valued at $26,000. Hopwood Financial Services Inc. acquired a new position in Taiwan Semiconductor Manufacturing in the 4th quarter valued at $27,000. Roxbury Financial LLC purchased a new position in Taiwan Semiconductor Manufacturing during the 4th quarter worth $29,000. Finally, Accredited Wealth Management LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 16.51% of the company's stock.

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.