Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 1.1% - Here's What Happened

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report) fell 1.1% during trading on Tuesday . The stock traded as low as $190.81 and last traded at $191.29. 1,914,166 shares were traded during trading, a decline of 88% from the average session volume of 15,864,094 shares. The stock had previously closed at $193.50.

Wall Street Analyst Weigh In

TSM has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. StockNews.com cut Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th. Susquehanna reissued a "positive" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, April 25th. Finally, Barclays restated a "hold" rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $212.00.

Taiwan Semiconductor Manufacturing Trading Up 0.9%

The firm has a market cap of $1.00 trillion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 0.66 and a beta of 1.21. The business's 50 day moving average is $168.54 and its 200-day moving average is $187.45. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. The company had revenue of $25.82 billion during the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. As a group, analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be issued a $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.34%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is 27.76%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of institutional investors have recently modified their holdings of the business. Stonebridge Financial Group LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter valued at about $25,000. IMG Wealth Management Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $26,000. Hopwood Financial Services Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing during the fourth quarter valued at approximately $27,000. City Holding Co. raised its holdings in Taiwan Semiconductor Manufacturing by 238.0% during the first quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 119 shares in the last quarter. Finally, Roxbury Financial LLC bought a new stake in Taiwan Semiconductor Manufacturing during the fourth quarter worth approximately $29,000. 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.