Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 4% - Here's What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report) dropped 4% during mid-day trading on Thursday . The stock traded as low as $185.11 and last traded at $186.87. Approximately 7,728,860 shares changed hands during trading, a decline of 54% from the average daily volume of 16,869,992 shares. The stock had previously closed at $194.62.

Wall Street Analyst Weigh In

Several research firms have weighed in on TSM. Needham & Company LLC restated a "buy" rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, February 18th. Barclays upped their target price 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. Finally, StockNews.com cut Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing currently has a consensus rating of "Moderate Buy" and a consensus target price of $220.00.

Taiwan Semiconductor Manufacturing Stock Performance

The stock's 50 day simple moving average is $204.74 and its two-hundred day simple moving average is $191.74. 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 stock has a market cap of $934.05 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 0.66 and a beta of 1.06.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share (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%. As a group, research analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.6855 per share. The ex-dividend date is Thursday, June 12th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 1.52%. This is a boost from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.55. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 31.11%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of institutional investors and hedge funds have recently modified their holdings of the company. Reston Wealth Management LLC bought a new position in Taiwan Semiconductor Manufacturing during the third quarter worth $25,000. Stonebridge Financial Group LLC acquired a new stake in Taiwan Semiconductor Manufacturing during the fourth quarter worth approximately $25,000. IMG Wealth Management Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth $26,000. Hopwood Financial Services Inc. bought a new stake in Taiwan Semiconductor Manufacturing during the fourth quarter worth about $27,000. Finally, Roxbury Financial LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $29,000. 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.