Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 4% – What’s Next?

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) traded down 4% during trading on Tuesday . The stock traded as low as $410.77 and last traded at $413.8680. 13,986,404 shares changed hands during trading, an increase of 1% from the average session volume of 13,859,371 shares. The stock had previously closed at $430.97.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Needham & Company LLC increased their target price on shares of Taiwan Semiconductor Manufacturing from $480.00 to $530.00 and gave the company a “buy” rating in a report on Monday, July 27th. Citigroup reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Monday, July 6th. Zacks Research upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. TD Cowen lifted their price target on Taiwan Semiconductor Manufacturing from $400.00 to $440.00 and gave the stock a “hold” rating in a research note on Friday, July 17th. Finally, Susquehanna raised their target price on shares of Taiwan Semiconductor Manufacturing from $575.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, July 16th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $524.25.

Taiwan Semiconductor Manufacturing Stock Performance

The business has a fifty day moving average of $426.03 and a 200-day moving average of $391.43. The company has a market cap of $2.15 trillion, a PE ratio of 29.86, a P/E/G ratio of 0.98 and a beta of 1.39. The company has a current ratio of 2.46, a quick ratio of 2.25 and a debt-to-equity ratio of 0.13.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Tuesday, June 30th. The semiconductor company reported $4.28 earnings per share for the quarter. Taiwan Semiconductor Manufacturing had a return on equity of 39.37% and a net margin of 50.31%.The business had revenue of $39.89 billion during the quarter. Equities research analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 16.44 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Thursday, December 10th will be issued a $1.0854 dividend. The ex-dividend date is Thursday, December 10th. This represents a $4.34 annualized dividend and a yield of 1.0%. Taiwan Semiconductor Manufacturing’s payout ratio is 21.43%.

Insiders Place Their Bets

In related news, VP Bor-Zen Tien purchased 3,000 shares of Taiwan Semiconductor Manufacturing stock in a transaction that occurred on Tuesday, July 21st. The shares were bought at an average price of $74.39 per share, for a total transaction of $223,170.00. Following the completion of the transaction, the vice president directly owned 4,000 shares of the company’s stock, valued at $297,560. This represents a 300.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Shyue-Shyh Lin acquired 2,000 shares of the stock in a transaction on Sunday, July 19th. The stock was bought at an average price of $71.71 per share, with a total value of $143,420.00. Following the completion of the acquisition, the vice president directly owned 28,269 shares of the company’s stock, valued at $2,027,169.99. This trade represents a 7.61% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 16,312 shares of company stock worth $1,207,238. 1.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Maxele Advisors LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the 2nd quarter valued at about $201,000. Dearborn Partners LLC bought a new position in Taiwan Semiconductor Manufacturing in the second quarter valued at about $1,204,000. First Bancorp Inc ME bought a new stake in Taiwan Semiconductor Manufacturing during the second quarter valued at approximately $275,000. Capital Square LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter worth $693,000. Finally, Pinnacle Holdings LLC purchased a new stake in Taiwan Semiconductor Manufacturing in the second quarter worth about $246,000. 16.51% of the stock is currently owned by institutional investors.

Taiwan Semiconductor Manufacturing Company Profile

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC’s service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.