Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 1.2% – Here’s Why

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares dropped 1.2% on Monday . The stock traded as low as $134.25 and last traded at $144.97. Approximately 23,696,574 shares traded hands during trading, an increase of 53% from the average daily volume of 15,511,464 shares. The stock had previously closed at $146.80.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TSM. Barclays lifted their price objective on shares of Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and set a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, February 18th. Finally, StockNews.com cut Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $220.00.

Taiwan Semiconductor Manufacturing Price Performance

The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $185.60 and a 200 day moving average of $192.23. The firm has a market cap of $756.40 billion, a P/E ratio of 20.72, a PEG ratio of 0.66 and a beta of 1.16.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its earnings results on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. On average, sell-side analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 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, July 10th. Investors of record on Thursday, June 12th will be paid a $0.6855 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $2.74 dividend on an annualized basis and a yield of 1.88%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 30.68%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds have recently bought and sold shares of the stock. Stonebridge Financial Group LLC bought a new stake in Taiwan Semiconductor Manufacturing in the 4th quarter valued at $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth $26,000. Hopwood Financial Services Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter valued at about $27,000. Roxbury Financial LLC bought a new position in Taiwan Semiconductor Manufacturing during the fourth quarter worth about $29,000. Finally, Accredited Wealth Management LLC acquired a new stake in Taiwan Semiconductor Manufacturing in the 4th quarter worth about $31,000. 16.51% of the stock is currently owned by institutional investors and hedge funds.

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.