Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 1.5% – Here’s Why

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) were down 1.5% during trading on Monday . The company traded as low as $287.55 and last traded at $287.7910. Approximately 11,906,447 shares were traded during trading, a decline of 17% from the average daily volume of 14,265,642 shares. The stock had previously closed at $292.04.

Analysts Set New Price Targets

Several research analysts have weighed in on TSM shares. UBS Group set a $330.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Sunday, December 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $360.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Monday, October 27th. Itau BBA Securities started coverage on Taiwan Semiconductor Manufacturing in a research note on Tuesday, October 7th. They set an “outperform” rating for the company. Sanford C. Bernstein raised their target price on Taiwan Semiconductor Manufacturing from $290.00 to $330.00 and gave the company an “outperform” rating in a report on Sunday, December 7th. Finally, Wall Street Zen raised Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Sunday. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $355.00.

Taiwan Semiconductor Manufacturing Stock Down 3.4%

The stock has a 50-day moving average of $293.21 and a 200 day moving average of $258.48. The company has a market capitalization of $1.44 trillion, a PE ratio of 28.41, a P/E/G ratio of 0.99 and a beta of 1.31. The company has a quick ratio of 2.47, a current ratio of 2.69 and a debt-to-equity ratio of 0.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, October 16th. The semiconductor company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.33. The firm had revenue of $32.36 billion during the quarter, compared to the consensus estimate of $951.89 billion. Taiwan Semiconductor Manufacturing had a return on equity of 34.34% and a net margin of 43.72%.The business’s revenue for the quarter was up 40.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 EPS. Sell-side analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Tuesday, March 17th will be paid a $0.9678 dividend. The ex-dividend date is Tuesday, March 17th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. This represents a $3.87 annualized dividend and a yield of 1.4%. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is currently 25.85%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Large investors have recently bought and sold shares of the company. Fisher Asset Management LLC grew its stake in Taiwan Semiconductor Manufacturing by 1.0% in the 3rd quarter. Fisher Asset Management LLC now owns 17,833,127 shares of the semiconductor company’s stock valued at $4,980,614,000 after buying an additional 168,171 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 3.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 15,759,419 shares of the semiconductor company’s stock worth $4,401,448,000 after acquiring an additional 541,047 shares during the period. Bank of America Corp DE boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 0.9% in the third quarter. Bank of America Corp DE now owns 14,935,893 shares of the semiconductor company’s stock worth $4,171,445,000 after acquiring an additional 130,173 shares during the period. Jennison Associates LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 4.5% in the third quarter. Jennison Associates LLC now owns 12,591,542 shares of the semiconductor company’s stock valued at $3,516,692,000 after purchasing an additional 544,750 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Taiwan Semiconductor Manufacturing by 19.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,350,239 shares of the semiconductor company’s stock valued at $2,050,141,000 after purchasing an additional 1,984,835 shares during the period. 16.51% of the stock is owned by hedge funds and other institutional investors.

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.