Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 1.6%

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares traded down 1.6% during mid-day trading on Wednesday . The stock traded as low as $135.04 and last traded at $135.10. 3,149,596 shares traded hands during trading, a decline of 80% from the average session volume of 15,529,733 shares. The stock had previously closed at $137.34.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com raised Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Barclays raised their target price on Taiwan Semiconductor Manufacturing from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. TD Cowen raised their target price on Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Thursday, April 18th. Needham & Company LLC reissued a “buy” rating and set a $168.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, April 18th. Finally, Susquehanna raised their target price on Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $157.00.

Taiwan Semiconductor Manufacturing Stock Down 1.7 %

The firm has a 50 day simple moving average of $137.54 and a two-hundred day simple moving average of $115.63. The company has a market capitalization of $699.91 billion, a PE ratio of 25.73, a P/E/G ratio of 0.99 and a beta of 1.15. The company has a current ratio of 2.33, a quick ratio of 2.06 and a debt-to-equity ratio of 0.27.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 13th will be issued a $0.4408 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.76 annualized dividend and a dividend yield of 1.31%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 32.76%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BOK Financial Private Wealth Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the first quarter valued at $53,000. Prosperity Consulting Group LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 450.5% in the first quarter. Prosperity Consulting Group LLC now owns 44,464 shares of the semiconductor company’s stock worth $6,049,000 after acquiring an additional 36,387 shares in the last quarter. Retirement Group LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 13.8% in the first quarter. Retirement Group LLC now owns 740 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 90 shares in the last quarter. Mission Wealth Management LP raised its stake in Taiwan Semiconductor Manufacturing by 17.0% during the first quarter. Mission Wealth Management LP now owns 6,625 shares of the semiconductor company’s stock valued at $901,000 after buying an additional 963 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in Taiwan Semiconductor Manufacturing during the first quarter valued at approximately $2,419,000. 16.51% of the stock is 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.