Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 1.9% - What's Next?

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report) shares were down 1.9% during mid-day trading on Friday . The company traded as low as $208.72 and last traded at $209.49. Approximately 5,938,567 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 15,577,958 shares. The stock had previously closed at $213.50.

Analysts Set New Price Targets

Several analysts recently commented on TSM shares. Barclays reaffirmed an "overweight" rating and issued a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Susquehanna upped their target price on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a "positive" rating in a report on Tuesday. Needham & Company LLC restated a "buy" rating and issued a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, April 17th. Finally, Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $218.00.

Taiwan Semiconductor Manufacturing Trading Down 1.5%

The company's 50-day moving average is $185.19 and its 200-day moving average is $189.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.18 and a current ratio of 2.39. The firm has a market cap of $1.09 trillion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 1.11 and a beta of 1.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The company had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. On average, research analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.6499 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 30.59%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Hedge funds and other institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC grew its stake in Taiwan Semiconductor Manufacturing by 15.2% in the first quarter. Voya Investment Management LLC now owns 2,698,437 shares of the semiconductor company's stock valued at $447,896,000 after acquiring an additional 355,766 shares during the period. Guinness Asset Management LTD grew its position in shares of Taiwan Semiconductor Manufacturing by 3.1% in the 1st quarter. Guinness Asset Management LTD now owns 394,273 shares of the semiconductor company's stock valued at $65,396,000 after purchasing an additional 12,034 shares during the period. Peterson Wealth Management increased its stake in Taiwan Semiconductor Manufacturing by 1.9% during the 1st quarter. Peterson Wealth Management now owns 21,855 shares of the semiconductor company's stock worth $3,628,000 after purchasing an additional 405 shares in the last quarter. 1248 Management LLC bought a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter worth approximately $28,000. Finally, First Long Island Investors LLC raised its holdings in Taiwan Semiconductor Manufacturing by 13.7% during the 1st quarter. First Long Island Investors LLC now owns 120,810 shares of the semiconductor company's stock worth $20,054,000 after buying an additional 14,583 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.