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

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

Analyst Ratings Changes

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

Taiwan Semiconductor Manufacturing Stock Performance

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 stock has a fifty day moving average price of $194.57 and a 200-day moving average price of $190.46. The firm has a market cap of $1.17 trillion, a price-to-earnings ratio of 28.91, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings data 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. Taiwan Semiconductor Manufacturing had a net margin of 41.67% and a return on equity of 31.43%. The firm had revenue of $25.82 billion for the quarter, compared to analyst estimates of $834.10 billion. On average, analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. This represents a $2.60 annualized dividend and a yield of 1.16%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is 30.59%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors have recently made changes to their positions in the stock. New Vernon Capital Holdings II LLC increased its holdings in Taiwan Semiconductor Manufacturing by 16,500.0% in 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 buying an additional 6,666,660 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of 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 worth $2,872,814,000 after acquiring an additional 6,180,445 shares during the period. Price T Rowe Associates Inc. MD increased its stake 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 purchasing an additional 4,158,772 shares in the last quarter. Nuveen LLC acquired a new position in Taiwan Semiconductor Manufacturing during the first quarter worth $482,676,000. Finally, FMR LLC boosted its position in 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. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

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.