Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 3% – Here’s What Happened

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) fell 3% during trading on Wednesday . The company traded as low as $319.07 and last traded at $325.65. 18,027,372 shares traded hands during mid-day trading, an increase of 19% from the average session volume of 15,155,096 shares. The stock had previously closed at $335.75.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Citigroup reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, January 9th. The Goldman Sachs Group restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Monday, January 5th. Susquehanna raised their target price on Taiwan Semiconductor Manufacturing from $300.00 to $400.00 and gave the stock a “positive” rating in a research note on Friday, October 10th. TD Cowen boosted their price target on shares of Taiwan Semiconductor Manufacturing from $325.00 to $370.00 and gave the company a “hold” rating in a research report on Friday, January 16th. Finally, UBS Group set a $330.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Sunday, December 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $381.67.

Taiwan Semiconductor Manufacturing Stock Performance

The firm has a 50 day simple moving average of $311.88 and a 200-day simple moving average of $282.71. The company has a market cap of $1.69 trillion, a price-to-earnings ratio of 30.58, a PEG ratio of 0.96 and a beta of 1.31. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.69 and a quick ratio of 2.47.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Friday, November 14th. The semiconductor company reported $14.32 earnings per share for the quarter. The business had revenue of $32.50 billion during the quarter. Taiwan Semiconductor Manufacturing had a return on equity of 36.18% and a net margin of 45.13%. As a group, 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 declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Tuesday, March 17th will be paid a $0.9678 dividend. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $3.87 dividend on an annualized basis and a dividend yield of 1.2%. Taiwan Semiconductor Manufacturing’s payout ratio is presently 23.57%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Hedge funds have recently made changes to their positions in the stock. Stephens Consulting LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 82.0% in the fourth quarter. Stephens Consulting LLC now owns 91 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 41 shares in the last quarter. Ares Financial Consulting LLC purchased a new position in Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $29,000. Heartwood Wealth Advisors LLC acquired a new position in Taiwan Semiconductor Manufacturing in the 3rd quarter valued at about $32,000. Resources Management Corp CT ADV purchased a new stake in Taiwan Semiconductor Manufacturing during the second quarter worth about $32,000. Finally, Mid American Wealth Advisory Group Inc. purchased a new stake in Taiwan Semiconductor Manufacturing during the second quarter worth about $33,000. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Company Profile

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC’s service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.