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

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) were down 4% during mid-day trading on Thursday . The stock traded as low as $185.11 and last traded at $186.87. Approximately 7,728,860 shares were traded during trading, a decline of 54% from the average daily volume of 16,869,992 shares. The stock had previously closed at $194.62.

Analyst Ratings Changes

Several brokerages recently issued reports on TSM. Barclays raised their price objective on Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Needham & Company LLC restated a “buy” rating and issued a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, February 18th. Finally, StockNews.com lowered shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and an average target price of $220.00.

Taiwan Semiconductor Manufacturing Price Performance

The company has a market capitalization of $934.05 billion, a P/E ratio of 25.58, a PEG ratio of 0.66 and a beta of 1.06. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. The business has a 50 day simple moving average of $204.74 and a 200-day simple moving average of $191.45.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. Analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.6855 per share. The ex-dividend date of this dividend is Thursday, June 12th. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. This represents a $2.74 annualized dividend and a dividend yield of 1.52%. Taiwan Semiconductor Manufacturing’s payout ratio is currently 31.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 4.6% in the fourth quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company’s stock worth $11,562,498,000 after purchasing an additional 2,572,488 shares during the period. Sanders Capital LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 0.6% in the 4th quarter. Sanders Capital LLC now owns 41,877,457 shares of the semiconductor company’s stock worth $8,270,379,000 after acquiring an additional 231,310 shares during the period. Capital World Investors lifted its stake in shares of Taiwan Semiconductor Manufacturing by 0.8% in the 4th quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company’s stock worth $7,031,632,000 after acquiring an additional 294,316 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 1.3% in the third quarter. Fisher Asset Management LLC now owns 28,767,106 shares of the semiconductor company’s stock valued at $4,995,984,000 after acquiring an additional 359,854 shares in the last quarter. Finally, Capital International Investors increased its stake in shares of Taiwan Semiconductor Manufacturing by 8.2% during the fourth quarter. Capital International Investors now owns 22,210,222 shares of the semiconductor company’s stock valued at $4,391,957,000 after acquiring an additional 1,683,256 shares during the period. 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.