Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 1.7% - What's Next?

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report) shares dropped 1.7% during trading on Tuesday . The stock traded as low as $231.76 and last traded at $234.81. Approximately 6,356,628 shares changed hands during trading, a decline of 57% from the average daily volume of 14,949,271 shares. The stock had previously closed at $238.85.

Analysts Set New Price Targets

TSM has been the topic of a number of recent analyst reports. Barclays reissued an "overweight" rating and issued a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Needham & Company LLC restated a "buy" rating and issued a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Finally, Susquehanna set a $265.00 target price on shares of Taiwan Semiconductor Manufacturing and gave the company a "positive" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Taiwan Semiconductor Manufacturing presently has an average rating of "Moderate Buy" and an average target price of $258.33.

Taiwan Semiconductor Manufacturing Stock Performance

The stock has a market cap of $1.22 trillion, a price-to-earnings ratio of 26.82, a PEG ratio of 1.16 and a beta of 1.29. The stock's 50 day moving average is $212.72 and its two-hundred day moving average is $193.65. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.34. The company had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 34.53%. Taiwan Semiconductor Manufacturing's quarterly revenue was up 44.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.48 EPS. Analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. 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 dividend of $0.6499 per share. 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 1.11%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 29.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. New Vernon Capital Holdings II LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 16,500.0% during the first quarter. New Vernon Capital Holdings II LLC now owns 6,707,064 shares of the semiconductor company's stock valued at $1,113,373,000 after acquiring an additional 6,666,660 shares during the period. Goldman Sachs Group Inc. lifted its holdings 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 worth $2,872,814,000 after purchasing an additional 6,180,445 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Taiwan Semiconductor Manufacturing by 67.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock worth $2,047,065,000 after purchasing an additional 4,158,772 shares during the period. Nuveen LLC acquired a new stake in Taiwan Semiconductor Manufacturing in the first quarter worth about $482,676,000. Finally, 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. 16.51% of the stock is owned by institutional investors and hedge funds.

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.

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