Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 1.9% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price fell 1.9% during mid-day trading on Thursday . The stock traded as low as $205.92 and last traded at $207.31. 13,238,249 shares were traded during mid-day trading, a decline of 13% from the average session volume of 15,159,652 shares. The stock had previously closed at $211.42.

Wall Street Analyst Weigh In

TSM has been the subject of a number of recent analyst reports. Susquehanna reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Barclays upped their price objective on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, October 17th. Finally, StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. 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 MarketBeat.com, Taiwan Semiconductor Manufacturing presently has an average rating of “Moderate Buy” and a consensus price target of $214.00.

Taiwan Semiconductor Manufacturing Price Performance

The firm has a 50-day simple moving average of $196.94 and a 200 day simple moving average of $183.23. The firm has a market cap of $1.08 trillion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. 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 results on Thursday, October 17th. The semiconductor company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.20. The firm had revenue of $23.50 billion for the quarter, compared to analysts’ expectations of $22.72 billion. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%. As a group, equities analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be issued a $0.5484 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $2.19 annualized dividend and a yield of 1.05%. Taiwan Semiconductor Manufacturing’s payout ratio is 35.10%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds have recently bought and sold shares of TSM. FMR LLC grew its position in Taiwan Semiconductor Manufacturing by 7.2% in the 3rd quarter. FMR LLC now owns 55,974,769 shares of the semiconductor company’s stock worth $9,721,138,000 after purchasing an additional 3,783,802 shares during the period. Clearbridge Investments LLC increased its position in Taiwan Semiconductor Manufacturing by 669.7% during the second quarter. Clearbridge Investments LLC now owns 3,721,489 shares of the semiconductor company’s stock valued at $646,832,000 after acquiring an additional 3,237,998 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Taiwan Semiconductor Manufacturing by 1,226.7% in the second quarter. 1832 Asset Management L.P. now owns 1,983,830 shares of the semiconductor company’s stock worth $344,809,000 after purchasing an additional 1,834,298 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 799.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,899,088 shares of the semiconductor company’s stock worth $329,815,000 after purchasing an additional 1,687,886 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Taiwan Semiconductor Manufacturing in the third quarter worth approximately $229,098,000. Hedge funds and other 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.