Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 3.7%

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) dropped 3.7% during trading on Thursday . The company traded as low as $130.30 and last traded at $133.83. Approximately 21,689,818 shares were traded during mid-day trading, an increase of 40% from the average daily volume of 15,456,622 shares. The stock had previously closed at $139.03.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TSM shares. Susquehanna upped their target price on shares of Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Tuesday, April 2nd. TD Cowen increased their target price on Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $168.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday. Barclays increased their price objective on Taiwan Semiconductor Manufacturing from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday. Finally, StockNews.com raised Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Taiwan Semiconductor Manufacturing presently has an average rating of “Moderate Buy” and an average target price of $157.00.

Taiwan Semiconductor Manufacturing Price Performance

The firm has a 50-day simple moving average of $136.50 and a 200-day simple moving average of $113.02. The firm has a market capitalization of $662.36 billion, a PE ratio of 24.65, a PEG ratio of 1.02 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.40 and a quick ratio of 2.13.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Thursday, January 18th. The semiconductor company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.07. The business had revenue of $19.62 billion for the quarter, compared to the consensus estimate of $18.99 billion. Taiwan Semiconductor Manufacturing had a net margin of 38.15% and a return on equity of 25.21%. As a group, equities analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.13 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Thursday, June 13th will be given a $0.4408 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Thursday, June 13th. Taiwan Semiconductor Manufacturing’s payout ratio is 33.98%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Everett Harris & Co. CA raised its position in shares of Taiwan Semiconductor Manufacturing by 2.4% during the 1st quarter. Everett Harris & Co. CA now owns 92,542 shares of the semiconductor company’s stock valued at $12,590,000 after purchasing an additional 2,200 shares during the period. Veracity Capital LLC raised its holdings in Taiwan Semiconductor Manufacturing by 13.3% during the first quarter. Veracity Capital LLC now owns 8,177 shares of the semiconductor company’s stock valued at $1,112,000 after acquiring an additional 963 shares during the period. Willis Johnson & Associates Inc. purchased a new position in shares of Taiwan Semiconductor Manufacturing in the first quarter valued at about $224,000. Tran Capital Management L.P. bought a new position in shares of Taiwan Semiconductor Manufacturing in the first quarter worth about $16,159,000. Finally, Accel Wealth Management bought a new position in shares of Taiwan Semiconductor Manufacturing in the first quarter worth about $257,000. Institutional investors own 16.51% of the company’s stock.

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 complementary metal oxide silicon wafer fabrication processes to manufacture logic, mixed-signal, radio frequency, and embedded memory semiconductors.