Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) shares dropped 1% during mid-day trading on Tuesday . The company traded as low as $26.84 and last traded at $26.94, with a volume of 5,240,024 shares changing hands. The stock had previously closed at $27.20.

TSM has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research report on Friday, July 8th. Daiwa Capital Markets upgraded shares of Taiwan Semiconductor Manufacturing from a “neutral” rating to a “buy” rating in a research report on Friday, June 3rd. JPMorgan Chase & Co. downgraded shares of Taiwan Semiconductor Manufacturing from an “overweight” rating to a “neutral” rating in a research report on Tuesday. Goldman Sachs Group Inc. downgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 28th. Finally, Susquehanna boosted their target price on shares of Taiwan Semiconductor Manufacturing from $16.00 to $17.00 and gave the company a “negative” rating in a research report on Monday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Taiwan Semiconductor Manufacturing currently has a consensus rating of “Buy” and an average price target of $24.33.

The company has a 50 day moving average price of $25.91 and a 200-day moving average price of $24.30. The company has a market capitalization of $139.58 billion and a price-to-earnings ratio of 15.648.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its earnings results on Thursday, July 14th. The company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $4.54 by $4.11. During the same quarter last year, the business earned $3.08 earnings per share. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Taiwan Semiconductor Manufacturing’s revenue was up 8.0% on a year-over-year basis. Equities analysts forecast that Taiwan Semiconductor Manufacturing Co. will post $12.78 EPS for the current fiscal year.

The business also recently announced a dividend, which will be paid on Thursday, July 21st. Investors of record on Wednesday, June 29th will be given a $0.744 dividend. The ex-dividend date of this dividend is Monday, June 27th.

Other hedge funds and institutional investors recently bought and sold shares of the company. Wetherby Asset Management Inc. increased its position in Taiwan Semiconductor Manufacturing by 5.6% in the fourth quarter. Wetherby Asset Management Inc. now owns 59,341 shares of the company’s stock worth $1,350,000 after buying an additional 3,165 shares during the period. Pittenger & Anderson Inc. increased its position in shares of Taiwan Semiconductor Manufacturing by 2.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 165,527 shares of the company’s stock valued at $3,766,000 after buying an additional 4,480 shares during the last quarter. Meridian Investment Counsel Inc. increased its position in shares of Taiwan Semiconductor Manufacturing by 3.6% in the fourth quarter. Meridian Investment Counsel Inc. now owns 146,667 shares of the company’s stock valued at $3,337,000 after buying an additional 5,075 shares during the last quarter. Buckingham Capital Management Inc. increased its position in shares of Taiwan Semiconductor Manufacturing by 13.3% in the third quarter. Buckingham Capital Management Inc. now owns 50,053 shares of the company’s stock valued at $1,039,000 after buying an additional 5,880 shares during the last quarter. Finally, Stevens Capital Management LP increased its position in shares of Taiwan Semiconductor Manufacturing by 9.7% in the fourth quarter. Stevens Capital Management LP now owns 103,255 shares of the company’s stock valued at $2,349,000 after buying an additional 9,106 shares during the last quarter.

Taiwan Semiconductor Manufacturing Co, Ltd. (TSMC) is a Taiwan-based company principally engaged in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits (ICs) and other semiconductor devices and the manufacturing of masks. The Company also offers a range of wafer fabrication processes, including processes to manufacture CMOS (complementary metal oxide silicon) logic, mixed-signal, radio frequency (RF), embedded memory, BiCMOS (bipolar complementary metal oxide silicon) mixed-signal and other semiconductors.

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