Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 3.4% – Should You Sell?

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) shares were down 3.4% on Wednesday . The company traded as low as $275.08 and last traded at $277.0190. Approximately 16,304,311 shares traded hands during trading, an increase of 14% from the average daily volume of 14,262,549 shares. The stock had previously closed at $286.87.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSM. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Taiwan Semiconductor Manufacturing in a report on Monday. Barclays boosted their price objective on Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Citigroup reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 17th. Itau BBA Securities initiated coverage on Taiwan Semiconductor Manufacturing in a report on Tuesday, October 7th. They issued an “outperform” rating on the stock. Finally, Wall Street Zen upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research note on Sunday. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Taiwan Semiconductor Manufacturing presently has a consensus rating of “Buy” and a consensus target price of $355.00.

Taiwan Semiconductor Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.47 and a current ratio of 2.69. The firm has a fifty day simple moving average of $293.21 and a two-hundred day simple moving average of $258.48. The firm has a market cap of $1.44 trillion, a PE ratio of 28.41, a PEG ratio of 0.99 and a beta of 1.31.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its earnings results on Thursday, October 16th. The semiconductor company reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.33. Taiwan Semiconductor Manufacturing had a return on equity of 34.34% and a net margin of 43.72%.The firm had revenue of $32.36 billion during the quarter, compared to the consensus estimate of $951.89 billion. During the same period in the prior year, the company earned $1.94 EPS. The company’s quarterly revenue was up 40.1% compared to the same quarter last year. Equities analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Tuesday, March 17th will be issued a $0.9678 dividend. This represents a $3.87 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 17th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. Taiwan Semiconductor Manufacturing’s payout ratio is 25.85%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several large investors have recently modified their holdings of TSM. Mirabella Financial Services LLP lifted its position in Taiwan Semiconductor Manufacturing by 122.8% in the third quarter. Mirabella Financial Services LLP now owns 17,361 shares of the semiconductor company’s stock worth $4,839,000 after buying an additional 9,570 shares during the last quarter. Mainstay Capital Management LLC ADV purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the third quarter valued at $328,000. Lynwood Price Capital Management LP lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 254.5% in the 3rd quarter. Lynwood Price Capital Management LP now owns 58,500 shares of the semiconductor company’s stock worth $16,338,000 after acquiring an additional 42,000 shares during the last quarter. Saranac Partners Ltd bought a new stake in Taiwan Semiconductor Manufacturing in the third quarter worth about $5,361,000. Finally, Allworth Financial LP raised its holdings in shares of Taiwan Semiconductor Manufacturing by 10.3% in the third quarter. Allworth Financial LP now owns 36,064 shares of the semiconductor company’s stock worth $10,072,000 after buying an additional 3,358 shares during the period. 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.