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

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report) was down 1% on Monday . The company traded as low as $224.80 and last traded at $226.25. Approximately 3,339,729 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 15,440,684 shares. The stock had previously closed at $228.57.

Analyst Ratings Changes

Several analysts recently issued reports on TSM shares. Needham & Company LLC lifted their target price on Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday. Barclays reaffirmed an "overweight" rating and set a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Finally, Susquehanna raised their target price on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a "positive" rating in a research note on Tuesday, June 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.75.

Taiwan Semiconductor Manufacturing Trading Up 0.8%

The firm has a market cap of $1.22 trillion, a P/E ratio of 30.27, a P/E/G ratio of 1.21 and a beta of 1.29. The stock has a 50 day simple moving average of $198.99 and a 200-day simple moving average of $191.22. 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 posted its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The firm 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 41.67% and a return on equity of 31.43%. On average, equities research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is 30.59%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Large investors have recently added to or reduced their stakes in the stock. New Vernon Capital Holdings II LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 16,500.0% during 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 purchasing an additional 6,666,660 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Taiwan Semiconductor Manufacturing by 55.6% during 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 buying an additional 6,180,445 shares during the period. Price T Rowe Associates Inc. MD increased its position in Taiwan Semiconductor Manufacturing by 67.0% during the fourth 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 purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the first quarter valued at $482,676,000. Finally, FMR LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 4.6% in the 4th quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock worth $11,562,498,000 after acquiring an additional 2,572,488 shares during the last quarter. 16.51% of the stock is 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.