Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 1.5% – Here’s What Happened

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) traded down 1.5% on Monday . The company traded as low as $287.55 and last traded at $287.7910. 11,906,447 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 14,265,642 shares. The stock had previously closed at $292.04.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Sunday. Barclays increased their price objective on shares of Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 17th. Itau BBA Securities started coverage on Taiwan Semiconductor Manufacturing in a report on Tuesday, October 7th. They issued an “outperform” rating for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $360.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Monday, October 27th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $355.00.

Taiwan Semiconductor Manufacturing Price Performance

The firm has a 50 day moving average price of $293.64 and a two-hundred day moving average price of $257.18. The company has a market cap of $1.49 trillion, a P/E ratio of 29.52, a P/E/G ratio of 1.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.47 and a current ratio of 2.69.

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

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Tuesday, March 17th will be paid a dividend of $0.9678 per share. This represents a $3.87 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, March 17th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 31.28%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC grew its stake in Taiwan Semiconductor Manufacturing by 1.0% during the third quarter. Fisher Asset Management LLC now owns 17,833,127 shares of the semiconductor company’s stock valued at $4,980,614,000 after acquiring an additional 168,171 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Taiwan Semiconductor Manufacturing by 3.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 15,759,419 shares of the semiconductor company’s stock worth $4,401,448,000 after purchasing an additional 541,047 shares in the last quarter. Bank of America Corp DE boosted its holdings in Taiwan Semiconductor Manufacturing by 0.9% in the 3rd quarter. Bank of America Corp DE now owns 14,935,893 shares of the semiconductor company’s stock valued at $4,171,445,000 after purchasing an additional 130,173 shares during the period. Jennison Associates LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing by 4.5% in the third quarter. Jennison Associates LLC now owns 12,591,542 shares of the semiconductor company’s stock worth $3,516,692,000 after purchasing an additional 544,750 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Taiwan Semiconductor Manufacturing by 19.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,350,239 shares of the semiconductor company’s stock valued at $2,050,141,000 after buying an additional 1,984,835 shares during the period. 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.