Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 1.7% – Here’s Why

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) dropped 1.7% during mid-day trading on Thursday . The stock traded as low as $299.64 and last traded at $305.02. Approximately 14,874,492 shares were traded during trading, an increase of 4% from the average daily volume of 14,246,450 shares. The stock had previously closed at $310.14.

Wall Street Analysts Forecast Growth

TSM has been the subject of several recent analyst reports. Citigroup reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 17th. Susquehanna boosted their target price on shares of Taiwan Semiconductor Manufacturing from $300.00 to $400.00 and gave the stock a “positive” rating in a research report on Friday, October 10th. Barclays increased their price target on shares of Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Itau BBA Securities began coverage on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, October 7th. They set an “outperform” rating on the stock. Finally, UBS Group set a $330.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Sunday, December 7th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Taiwan Semiconductor Manufacturing has a consensus rating of “Buy” and a consensus price target of $355.00.

Taiwan Semiconductor Manufacturing Stock Performance

The stock’s 50 day moving average price is $293.64 and its two-hundred day moving average price is $256.34. The firm has a market capitalization of $1.51 trillion, a PE ratio of 29.94, a PEG ratio of 1.05 and a beta of 1.31. The company has a current ratio of 2.69, a quick ratio of 2.47 and a debt-to-equity ratio of 0.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings data on Thursday, October 16th. The semiconductor company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.33. The business had revenue of $32.36 billion for 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 was up 40.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.94 earnings per share. On average, equities analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.9678 per share. This represents a $3.87 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, March 17th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 25.85%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors and hedge funds have recently modified their holdings of the company. Heartwood Wealth Advisors LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the third quarter valued at $32,000. Cedar Wealth Management LLC boosted its stake in Taiwan Semiconductor Manufacturing by 91.4% in the 3rd quarter. Cedar Wealth Management LLC now owns 134 shares of the semiconductor company’s stock worth $37,000 after buying an additional 64 shares during the last quarter. Fairman Group LLC grew its holdings in Taiwan Semiconductor Manufacturing by 171.2% in the 3rd quarter. Fairman Group LLC now owns 141 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 89 shares during the period. Resources Management Corp CT ADV acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter valued at about $32,000. Finally, Mid American Wealth Advisory Group Inc. purchased a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter worth about $33,000. 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.