Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 2.4% – Here’s What Happened

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) traded down 2.4% during trading on Thursday . The stock traded as low as $199.23 and last traded at $201.33. 7,189,960 shares changed hands during trading, a decline of 58% from the average session volume of 17,238,229 shares. The stock had previously closed at $206.38.

Analyst Ratings Changes

Several analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, January 16th. Barclays raised their target price on shares of Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. StockNews.com downgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Susquehanna reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.00.

Taiwan Semiconductor Manufacturing Stock Down 2.7 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30. The firm’s 50 day moving average is $205.29 and its two-hundred day moving average is $188.58. The firm has a market capitalization of $1.04 trillion, a P/E ratio of 28.51, a PEG ratio of 0.70 and a beta of 1.06.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. Research analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 9.12 EPS for the current year.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSM. Accel Wealth Management lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 2.5% during the fourth quarter. Accel Wealth Management now owns 2,037 shares of the semiconductor company’s stock worth $402,000 after buying an additional 49 shares in the last quarter. FWG Holdings LLC raised its stake in Taiwan Semiconductor Manufacturing by 1.6% during the third quarter. FWG Holdings LLC now owns 3,106 shares of the semiconductor company’s stock worth $539,000 after acquiring an additional 50 shares in the last quarter. Elmwood Wealth Management Inc. raised its stake in Taiwan Semiconductor Manufacturing by 3.7% during the fourth quarter. Elmwood Wealth Management Inc. now owns 1,405 shares of the semiconductor company’s stock worth $277,000 after acquiring an additional 50 shares in the last quarter. WP Advisors LLC raised its stake in Taiwan Semiconductor Manufacturing by 1.2% during the fourth quarter. WP Advisors LLC now owns 4,271 shares of the semiconductor company’s stock worth $843,000 after acquiring an additional 50 shares in the last quarter. Finally, Heritage Wealth Advisors raised its stake in Taiwan Semiconductor Manufacturing by 20.0% during the fourth quarter. Heritage Wealth Advisors now owns 300 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 50 shares in the last quarter. 16.51% of the stock is owned by institutional investors.

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.