Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 0.2% – Here’s Why

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) fell 0.2% during trading on Friday . The stock traded as low as $177.57 and last traded at $179.07. 3,442,997 shares changed hands during trading, a decline of 78% from the average session volume of 15,429,119 shares. The stock had previously closed at $179.48.

Analyst Ratings Changes

Several research firms recently commented on TSM. TD Cowen increased their target price on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Sanford C. Bernstein increased their target price on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Needham & Company LLC increased their target price on shares of Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Susquehanna reissued a “positive” rating and set a $250.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $200.00.

Taiwan Semiconductor Manufacturing Trading Down 0.2 %

The company has a current ratio of 2.47, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. The firm has a market cap of $928.58 billion, a PE ratio of 34.11, a P/E/G ratio of 1.04 and a beta of 1.14. The company’s 50-day moving average is $168.34 and its 200 day moving average is $160.13.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings results on Thursday, July 18th. The semiconductor company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.37 by $0.11. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.33 billion. Taiwan Semiconductor Manufacturing had a net margin of 37.85% and a return on equity of 25.54%. The firm’s quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 EPS. As a group, sell-side analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a $0.4871 dividend. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, December 12th. This represents a $1.95 dividend on an annualized basis and a yield of 1.09%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 36.95%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Seed Wealth Management Inc. lifted its position in Taiwan Semiconductor Manufacturing by 1.3% in the 2nd quarter. Seed Wealth Management Inc. now owns 4,558 shares of the semiconductor company’s stock worth $792,000 after buying an additional 57 shares in the last quarter. Keudell Morrison Wealth Management lifted its position in Taiwan Semiconductor Manufacturing by 1.5% in the 2nd quarter. Keudell Morrison Wealth Management now owns 4,027 shares of the semiconductor company’s stock worth $700,000 after buying an additional 59 shares in the last quarter. Heron Bay Capital Management lifted its position in Taiwan Semiconductor Manufacturing by 1.0% in the 2nd quarter. Heron Bay Capital Management now owns 5,710 shares of the semiconductor company’s stock worth $992,000 after buying an additional 59 shares in the last quarter. Clifford Swan Investment Counsel LLC lifted its position in Taiwan Semiconductor Manufacturing by 1.4% in the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 4,798 shares of the semiconductor company’s stock worth $834,000 after buying an additional 66 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 0.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 17,733 shares of the semiconductor company’s stock worth $3,082,000 after purchasing an additional 66 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.