Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 0.2% – Here’s What Happened

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) dropped 0.2% during mid-day trading on Friday . The company traded as low as $177.57 and last traded at $179.07. Approximately 3,442,997 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 15,429,119 shares. The stock had previously closed at $179.48.

Analyst Ratings Changes

TSM has been the subject of several recent research reports. Susquehanna reaffirmed a “positive” rating and issued a $250.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Wednesday, August 14th. TD Cowen raised their target price on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Sanford C. Bernstein boosted their price target on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. Finally, Needham & Company LLC raised their price objective on shares of Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Taiwan Semiconductor Manufacturing presently has an average rating of “Moderate Buy” and a consensus price target of $200.00.

Taiwan Semiconductor Manufacturing Trading Up 0.9 %

The firm has a market cap of $939.57 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 1.03 and a beta of 1.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.47. The company has a 50 day moving average price of $168.72 and a 200 day moving average price of $160.62.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. The company had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.33 billion. Taiwan Semiconductor Manufacturing had a net margin of 37.85% and a return on equity of 25.54%. Taiwan Semiconductor Manufacturing’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. On average, research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be paid a dividend of $0.4871 per share. This represents a $1.95 dividend on an annualized basis and a yield of 1.08%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, December 12th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 36.95%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of institutional investors have recently modified their holdings of TSM. Burns J W & Co. Inc. NY acquired a new position in Taiwan Semiconductor Manufacturing in the 3rd quarter valued at about $208,000. Harbor Investment Advisory LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 18.7% in the third quarter. Harbor Investment Advisory LLC now owns 2,388 shares of the semiconductor company’s stock valued at $415,000 after purchasing an additional 377 shares in the last quarter. Central Valley Advisors LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the 3rd quarter worth approximately $320,000. Eldred Rock Partners LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 120.0% during the 3rd quarter. Eldred Rock Partners LLC now owns 72,331 shares of the semiconductor company’s stock worth $12,584,000 after buying an additional 39,451 shares in the last quarter. Finally, Capital CS Group LLC purchased a new position in Taiwan Semiconductor Manufacturing in the 3rd quarter valued at approximately $658,000. 16.51% of the stock is owned by institutional investors and hedge funds.

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.