Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 2.4% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) fell 2.4% during mid-day trading on Wednesday . The company traded as low as $178.82 and last traded at $179.40. 3,583,153 shares were traded during mid-day trading, a decline of 77% from the average session volume of 15,263,490 shares. The stock had previously closed at $183.84.

Analysts Set New Price Targets

Several brokerages have recently commented on TSM. Susquehanna restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. StockNews.com downgraded Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, October 17th. Finally, Barclays boosted their price objective on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $214.00.

Taiwan Semiconductor Manufacturing Price Performance

The company’s 50 day simple moving average is $188.57 and its 200 day simple moving average is $174.66. The stock has a market cap of $936.46 billion, a P/E ratio of 28.75, a P/E/G ratio of 0.85 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings data on Thursday, October 17th. The semiconductor company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%. The business had revenue of $23.50 billion for the quarter, compared to the consensus estimate of $22.72 billion. As a group, equities analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be paid a $0.5484 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.19 dividend on an annualized basis and a yield of 1.21%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s payout ratio is presently 31.57%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Institutional investors have recently made changes to their positions in the business. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter worth approximately $25,000. Reston Wealth Management LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the 3rd quarter worth about $25,000. Olistico Wealth LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter worth about $27,000. Valley Wealth Managers Inc. acquired a new position in Taiwan Semiconductor Manufacturing in the 2nd quarter valued at about $27,000. Finally, NewSquare Capital LLC acquired a new stake in Taiwan Semiconductor Manufacturing during the second quarter worth approximately $29,000. Institutional investors own 16.51% of the company’s stock.

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.