Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 1% - Here's Why

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report)'s stock price dropped 1% during trading on Thursday . The company traded as low as $227.77 and last traded at $229.42. Approximately 5,931,584 shares traded hands during trading, a decline of 61% from the average daily volume of 15,326,389 shares. The stock had previously closed at $231.84.

Wall Street Analysts Forecast Growth

TSM has been the topic of a number of research reports. Susquehanna upped their price target on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a "positive" rating in a research note on Tuesday, June 17th. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Needham & Company LLC upped their price objective on Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Finally, Barclays reaffirmed an "overweight" rating and set a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing has a consensus rating of "Moderate Buy" and an average target price of $233.75.

Taiwan Semiconductor Manufacturing Stock Up 0.3%

The business has a 50-day moving average price of $206.45 and a two-hundred day moving average price of $192.48. The company has a quick ratio of 2.18, a current ratio of 2.39 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.19 trillion, a PE ratio of 29.61, a price-to-earnings-growth ratio of 1.24 and a beta of 1.29.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. The firm had revenue of $25.82 billion for the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. On average, equities research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be issued a $0.6499 dividend. This represents a $2.60 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 31.75%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several large investors have recently bought and sold shares of TSM. FMR LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 4.6% during 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 in the last quarter. Sanders Capital LLC grew its stake in Taiwan Semiconductor Manufacturing by 0.6% during the 4th quarter. Sanders Capital LLC now owns 41,877,457 shares of the semiconductor company's stock worth $8,270,379,000 after buying an additional 231,310 shares during the last quarter. Capital World Investors increased its position in Taiwan Semiconductor Manufacturing by 0.8% during the fourth quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company's stock worth $7,031,632,000 after buying an additional 294,316 shares during the period. Capital International Investors increased its position in 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 worth $4,391,957,000 after buying an additional 1,683,256 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Taiwan Semiconductor Manufacturing by 55.6% in the first quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company's stock valued at $2,872,814,000 after buying an additional 6,180,445 shares during the last quarter. Hedge funds and other 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.