Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 2.6% – Here’s What Happened

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) traded down 2.6% during mid-day trading on Monday . The company traded as low as $228.34 and last traded at $228.80. 5,325,178 shares were traded during mid-day trading, a decline of 65% from the average session volume of 15,428,145 shares. The stock had previously closed at $234.80.

Wall Street Analyst Weigh In

TSM has been the topic of a number of research analyst reports. Needham & Company LLC upped their target price on Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, July 1st. Susquehanna boosted their target price on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a “positive” rating in a report on Tuesday, June 17th. Citigroup reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Finally, Barclays reiterated an “overweight” rating and set a $240.00 target price (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Taiwan Semiconductor Manufacturing has a consensus rating of “Moderate Buy” and an average price target of $233.75.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a market capitalization of $1.19 trillion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 1.22 and a beta of 1.29. The business’s fifty day moving average is $200.39 and its two-hundred day moving average is $191.41. The company has a quick ratio of 2.18, a current ratio of 2.39 and a debt-to-equity ratio of 0.22.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.09. The firm had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. As a group, research analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 30.59%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TSM. Modus Advisors LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 1.9% during the 2nd quarter. Modus Advisors LLC now owns 3,928 shares of the semiconductor company’s stock worth $890,000 after buying an additional 74 shares in the last quarter. Roxbury Financial LLC increased its position in Taiwan Semiconductor Manufacturing by 426.6% during the 2nd quarter. Roxbury Financial LLC now owns 832 shares of the semiconductor company’s stock valued at $189,000 after purchasing an additional 674 shares during the period. Ables Iannone Moore & Associates Inc. raised its holdings in shares of Taiwan Semiconductor Manufacturing by 38.6% in the 2nd quarter. Ables Iannone Moore & Associates Inc. now owns 2,730 shares of the semiconductor company’s stock valued at $618,000 after purchasing an additional 761 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Taiwan Semiconductor Manufacturing by 17.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,657 shares of the semiconductor company’s stock worth $1,961,000 after purchasing an additional 1,274 shares during the period. Finally, Salem Investment Counselors Inc. boosted its stake in shares of Taiwan Semiconductor Manufacturing by 0.5% during the second quarter. Salem Investment Counselors Inc. now owns 89,929 shares of the semiconductor company’s stock valued at $20,375,000 after purchasing an additional 406 shares in the last quarter. Institutional investors own 16.51% of the company’s stock.

About Taiwan Semiconductor Manufacturing

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.