Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 0.3%

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price dropped 0.3% on Tuesday . The stock traded as low as $167.77 and last traded at $168.53. Approximately 2,426,313 shares traded hands during trading, a decline of 84% from the average daily volume of 15,634,619 shares. The stock had previously closed at $169.08.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Barclays increased their price objective on Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. Sanford C. Bernstein raised their price target on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. TD Cowen increased their price target 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 lifted their price target on 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 restated a “positive” rating and issued a $250.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $200.00.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a quick ratio of 2.21, a current ratio of 2.47 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $867.63 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 0.99 and a beta of 1.14. The firm has a 50-day moving average price of $167.47 and a 200 day moving average price of $157.46.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.11. The firm had revenue of $20.82 billion for 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 revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS. Research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a $0.4871 dividend. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $1.95 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, December 12th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 37.71%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSM. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter worth $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter valued at $27,000. Olistico Wealth LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter worth about $27,000. NewSquare Capital LLC acquired a new stake in Taiwan Semiconductor Manufacturing in the 2nd quarter valued at $29,000. Finally, Fairscale Capital LLC acquired a new stake in Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $32,000. 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.