Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 0.1% – Here’s What Happened

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) dropped 0.1% during trading on Wednesday . The company traded as low as $171.74 and last traded at $173.01. Approximately 2,846,639 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 15,058,444 shares. The stock had previously closed at $173.13.

Analysts Set New Price Targets

Several research firms have recently commented on TSM. StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Barclays upped their price objective on Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.00.

Taiwan Semiconductor Manufacturing Stock Down 0.1 %

The company has a market cap of $897.10 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 0.66 and a beta of 1.13. The stock has a 50-day simple moving average of $197.58 and a 200-day simple moving average of $192.08. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. As a group, analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be issued a $0.6855 dividend. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. This represents a $2.74 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, June 12th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 30.68%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Accel Wealth Management increased its stake in Taiwan Semiconductor Manufacturing by 2.5% in the 4th quarter. Accel Wealth Management now owns 2,037 shares of the semiconductor company’s stock worth $402,000 after purchasing an additional 49 shares in the last quarter. FWG Holdings LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 1.6% in the 3rd quarter. FWG Holdings LLC now owns 3,106 shares of the semiconductor company’s stock valued at $539,000 after acquiring an additional 50 shares in the last quarter. Elmwood Wealth Management Inc. boosted its stake in Taiwan Semiconductor Manufacturing by 3.7% in the 4th quarter. Elmwood Wealth Management Inc. now owns 1,405 shares of the semiconductor company’s stock worth $277,000 after purchasing an additional 50 shares during the period. WP Advisors LLC grew its position in Taiwan Semiconductor Manufacturing by 1.2% during the 4th quarter. WP Advisors LLC now owns 4,271 shares of the semiconductor company’s stock worth $843,000 after purchasing an additional 50 shares in the last quarter. Finally, Heritage Wealth Advisors lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 20.0% in the fourth quarter. Heritage Wealth Advisors now owns 300 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 50 shares in the last quarter. 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.