Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 4% – Here’s What Happened

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)’s stock price fell 4% during mid-day trading on Tuesday . The stock traded as low as $410.77 and last traded at $413.8680. 13,986,404 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 13,859,371 shares. The stock had previously closed at $430.97.

Analyst Ratings Changes

Several equities research analysts have recently commented on TSM shares. Needham & Company LLC boosted their price objective on Taiwan Semiconductor Manufacturing from $480.00 to $530.00 and gave the company a “buy” rating in a report on Monday, July 27th. Bank of America boosted their price target on shares of Taiwan Semiconductor Manufacturing from $490.00 to $590.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Sanford C. Bernstein upped their price objective on shares of Taiwan Semiconductor Manufacturing from $430.00 to $554.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Zacks Research upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Finally, DA Davidson boosted their target price on shares of Taiwan Semiconductor Manufacturing from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $524.25.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a market cap of $2.15 trillion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 0.98 and a beta of 1.39. The company’s 50 day moving average price is $426.03 and its 200-day moving average price is $391.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.25 and a current ratio of 2.46.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings data on Tuesday, June 30th. The semiconductor company reported $4.28 earnings per share (EPS) for the quarter. Taiwan Semiconductor Manufacturing had a net margin of 50.31% and a return on equity of 39.37%. The business had revenue of $39.89 billion during the quarter. Equities analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 16.44 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Thursday, December 10th will be given a $1.0854 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $4.34 annualized dividend and a yield of 1.0%. Taiwan Semiconductor Manufacturing’s payout ratio is currently 21.43%.

Insider Buying and Selling at Taiwan Semiconductor Manufacturing

In related news, VP Lipen Yuan acquired 1,000 shares of the stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $79.19 per share, with a total value of $79,190.00. Following the completion of the transaction, the vice president owned 5,000 shares in the company, valued at approximately $395,950. The trade was a 25.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Shyue-Shyh Lin bought 2,000 shares of Taiwan Semiconductor Manufacturing stock in a transaction dated Sunday, July 19th. The shares were bought at an average cost of $71.71 per share, with a total value of $143,420.00. Following the completion of the transaction, the vice president directly owned 28,269 shares in the company, valued at approximately $2,027,169.99. This trade represents a 7.61% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 16,312 shares of company stock worth $1,207,238 in the last quarter. 1.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors and hedge funds have recently bought and sold shares of the company. Brookstone Capital Management grew its stake in Taiwan Semiconductor Manufacturing by 87.3% in the 2nd quarter. Brookstone Capital Management now owns 25,143 shares of the semiconductor company’s stock worth $12,008,000 after buying an additional 11,719 shares in the last quarter. Capital Research Global Investors increased its stake in Taiwan Semiconductor Manufacturing by 66.3% in the fourth quarter. Capital Research Global Investors now owns 3,215,353 shares of the semiconductor company’s stock valued at $976,821,000 after acquiring an additional 1,281,648 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in Taiwan Semiconductor Manufacturing in the fourth quarter valued at $961,000. Meridian Wealth Management LLC lifted its stake in Taiwan Semiconductor Manufacturing by 27.9% during the fourth quarter. Meridian Wealth Management LLC now owns 65,974 shares of the semiconductor company’s stock worth $20,049,000 after purchasing an additional 14,406 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 273.2% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 81,189 shares of the semiconductor company’s stock worth $27,438,000 after purchasing an additional 59,435 shares in the last quarter. 16.51% of the stock is owned by institutional investors.

About Taiwan Semiconductor Manufacturing

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.