Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 2.4% - What's Next?

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report)'s stock price was down 2.4% during trading on Friday . The company traded as low as $239.07 and last traded at $239.63. Approximately 6,636,773 shares traded hands during trading, a decline of 58% from the average daily volume of 15,725,513 shares. The stock had previously closed at $245.60.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TSM shares. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Barclays reiterated an "overweight" rating and set a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Susquehanna set a $265.00 price target on shares of Taiwan Semiconductor Manufacturing and gave the company a "positive" rating in a report on Monday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.25.

Taiwan Semiconductor Manufacturing Trading Down 1.7%

The company has a market cap of $1.25 trillion, a P/E ratio of 30.96, a P/E/G ratio of 1.28 and a beta of 1.29. The stock's 50-day moving average is $211.45 and its two-hundred day moving average is $193.43. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 2.18.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a net margin of 41.67% and a return on equity of 31.43%. The business had revenue of $30.07 billion for the quarter, compared to the consensus estimate of $28.50 billion. During the same period last year, the firm earned $1.48 earnings per share. The company's quarterly revenue was up 44.4% on a year-over-year basis. As a group, equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 annualized dividend and a dividend yield of 1.08%. Taiwan Semiconductor Manufacturing's payout ratio is 31.75%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Several institutional investors and hedge funds have recently modified their holdings of TSM. New Vernon Capital Holdings II LLC increased its holdings in Taiwan Semiconductor Manufacturing by 16,500.0% in the 1st 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 last quarter. Goldman Sachs Group Inc. increased its holdings in Taiwan Semiconductor Manufacturing by 55.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company's stock valued at $2,872,814,000 after acquiring an additional 6,180,445 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Taiwan Semiconductor Manufacturing by 67.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock valued at $2,047,065,000 after acquiring an additional 4,158,772 shares during the last quarter. Nuveen LLC bought a new stake in Taiwan Semiconductor Manufacturing in the 1st quarter valued at $482,676,000. Finally, FMR LLC increased its holdings in Taiwan Semiconductor Manufacturing by 4.6% in the 4th quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock valued at $11,562,498,000 after acquiring an additional 2,572,488 shares during the last quarter. 16.51% of the stock is currently owned by institutional investors.

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 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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