Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 0.5% - Here's Why

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report) dropped 0.5% on Tuesday . The stock traded as low as $179.80 and last traded at $180.21. Approximately 2,925,173 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 15,039,274 shares. The stock had previously closed at $181.16.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSM. Barclays raised 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 note 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 restated a "buy" rating and issued a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing presently has an average rating of "Moderate Buy" and an average target price of $220.00.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a market cap 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 company's 50-day simple moving average is $192.35 and its 200-day simple moving average is $192.55. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24.

Remove Ads

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its earnings results 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%. Analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be issued a $0.6855 dividend. This represents a $2.74 annualized dividend and a dividend yield of 1.65%. This is a boost from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.55. The ex-dividend date is Thursday, June 12th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 30.68%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds have recently made changes to their positions in the company. Cynosure Group LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing during the third quarter valued at $241,000. Blueshift Asset Management LLC acquired a new stake in Taiwan Semiconductor Manufacturing in the third quarter valued at approximately $206,000. CreativeOne Wealth LLC grew its position in Taiwan Semiconductor Manufacturing by 29.0% in the third quarter. CreativeOne Wealth LLC now owns 5,323 shares of the semiconductor company's stock worth $925,000 after acquiring an additional 1,198 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Taiwan Semiconductor Manufacturing by 211.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,005 shares of the semiconductor company's stock worth $7,990,000 after purchasing an additional 31,231 shares in the last quarter. Finally, Fiduciary Trust Co increased its position in Taiwan Semiconductor Manufacturing by 63.9% during the third quarter. Fiduciary Trust Co now owns 4,157 shares of the semiconductor company's stock worth $722,000 after buying an additional 1,621 shares during the last quarter. Hedge funds and other institutional investors 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.