Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 1.4% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares were down 1.4% on Monday . The stock traded as low as $188.81 and last traded at $191.56. Approximately 4,849,970 shares were traded during trading, a decline of 69% from the average daily volume of 15,898,408 shares. The stock had previously closed at $194.22.

Analysts Set New Price Targets

TSM has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, April 17th. StockNews.com cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Barclays reaffirmed a “hold” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, April 25th. Finally, Susquehanna reiterated a “positive” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.00.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a market cap of $1.00 trillion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 0.66 and a beta of 1.21. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average price of $168.19 and a 200 day moving average price of $187.42.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. The firm had revenue of $25.82 billion for the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. As a group, research analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.6499 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 annualized dividend and a dividend yield of 1.35%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 27.76%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several institutional investors have recently made changes to their positions in the company. New Vernon Capital Holdings II LLC grew its stake in Taiwan Semiconductor Manufacturing by 16,500.0% in the first quarter. New Vernon Capital Holdings II LLC now owns 6,707,064 shares of the semiconductor company’s stock valued at $1,113,373,000 after purchasing an additional 6,666,660 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Taiwan Semiconductor Manufacturing by 55.6% in the first quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company’s stock valued at $2,872,814,000 after purchasing an additional 6,180,445 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Taiwan Semiconductor Manufacturing by 67.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company’s stock valued at $2,047,065,000 after purchasing an additional 4,158,772 shares during the last quarter. Jennison Associates LLC grew its stake in Taiwan Semiconductor Manufacturing by 72.9% in the fourth quarter. Jennison Associates LLC now owns 6,949,520 shares of the semiconductor company’s stock valued at $1,372,461,000 after purchasing an additional 2,931,209 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Taiwan Semiconductor Manufacturing in the first quarter valued at about $482,676,000. 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.