Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 1.1% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares dropped 1.1% during trading on Friday . The stock traded as low as $201.60 and last traded at $203.49. Approximately 7,851,809 shares changed hands during trading, a decline of 50% from the average daily volume of 15,565,708 shares. The stock had previously closed at $205.84.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TSM shares. TD Cowen boosted their target price on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday. Finally, Susquehanna restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.00.

Taiwan Semiconductor Manufacturing Trading Down 2.5 %

The firm has a market cap of $1.04 trillion, a price-to-earnings ratio of 38.24, a PEG ratio of 1.13 and a beta of 1.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.47. The business has a fifty day moving average of $175.31 and a two-hundred day moving average of $164.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. The business had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.33 billion. Taiwan Semiconductor Manufacturing had a return on equity of 25.54% and a net margin of 37.85%. The company’s revenue was up 34.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. As a group, equities analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 earnings per share for the current fiscal 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 issued a dividend of $0.4871 per share. This represents a $1.95 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Thursday, December 12th. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 36.95%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Large investors have recently bought and sold shares of the stock. BOKF NA grew its holdings in Taiwan Semiconductor Manufacturing by 4.8% during the 1st quarter. BOKF NA now owns 1,762 shares of the semiconductor company’s stock valued at $249,000 after buying an additional 81 shares during the last quarter. Cetera Advisors LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 80.7% during the 1st quarter. Cetera Advisors LLC now owns 79,291 shares of the semiconductor company’s stock worth $10,787,000 after purchasing an additional 35,404 shares during the period. ProShare Advisors LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing during the 1st quarter worth $210,000. Empowered Funds LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 53.8% during the 1st quarter. Empowered Funds LLC now owns 20,849 shares of the semiconductor company’s stock worth $2,837,000 after purchasing an additional 7,293 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Taiwan Semiconductor Manufacturing during the 1st quarter worth $437,000. Institutional investors and hedge funds 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.