Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 6.1% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares dropped 6.1% on Friday . The stock traded as low as $144.84 and last traded at $147.80. Approximately 12,575,009 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 15,358,464 shares. The stock had previously closed at $157.38.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSM. Barclays boosted their price objective on Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. StockNews.com lowered shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.00.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a market capitalization of $761.76 billion, a P/E ratio of 20.86, a PEG ratio of 0.66 and a beta of 1.16. 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 company has a 50-day moving average price of $186.54 and a two-hundred day moving average price of $192.26.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its earnings results on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. Equities analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be given a dividend of $0.6855 per share. This represents a $2.74 annualized dividend and a yield of 1.87%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, June 12th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 30.68%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Institutional investors and hedge funds have recently modified their holdings of the business. Morse Asset Management Inc lifted its position in Taiwan Semiconductor Manufacturing by 120.7% during the third quarter. Morse Asset Management Inc now owns 17,703 shares of the semiconductor company’s stock valued at $3,074,000 after purchasing an additional 9,683 shares during the last quarter. Two Sigma Advisers LP grew its position in Taiwan Semiconductor Manufacturing by 1,391.8% in the third quarter. Two Sigma Advisers LP now owns 164,100 shares of the semiconductor company’s stock worth $28,499,000 after acquiring an additional 153,100 shares in the last quarter. Weiss Asset Management LP bought a new position in Taiwan Semiconductor Manufacturing in the third quarter valued at $1,711,000. Kovitz Investment Group Partners LLC raised its position in Taiwan Semiconductor Manufacturing by 31.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 23,244 shares of the semiconductor company’s stock valued at $3,697,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Insigneo Advisory Services LLC lifted its stake in Taiwan Semiconductor Manufacturing by 34.0% during the third quarter. Insigneo Advisory Services LLC now owns 13,987 shares of the semiconductor company’s stock worth $2,429,000 after purchasing an additional 3,552 shares during the last quarter. Hedge funds and other 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.