Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 2.6% - Here's Why

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Get Free Report)'s stock price dropped 2.6% on Monday . The company traded as low as $228.34 and last traded at $228.80. Approximately 5,325,178 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 15,428,145 shares. The stock had previously closed at $234.80.

Analysts Set New Price Targets

A number of analysts recently commented on TSM shares. Barclays reiterated an "overweight" rating and issued a $240.00 target price (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Needham & Company LLC lifted their target price on shares of Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Finally, Susquehanna lifted their target price on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a "positive" rating in a research note on Tuesday, June 17th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $233.75.

Taiwan Semiconductor Manufacturing Trading Down 0.8%

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 company has a fifty day moving average of $204.28 and a two-hundred day moving average of $192.16. The stock has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 29.56, a P/E/G ratio of 1.25 and a beta of 1.29.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, beating 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 expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is presently 31.75%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Westmount Partners LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 2.2% during the 2nd quarter. Westmount Partners LLC now owns 2,126 shares of the semiconductor company's stock worth $481,000 after purchasing an additional 45 shares during the period. Mirador Capital Partners LP grew its holdings in shares of Taiwan Semiconductor Manufacturing by 2.6% during the 2nd quarter. Mirador Capital Partners LP now owns 1,785 shares of the semiconductor company's stock worth $404,000 after purchasing an additional 45 shares during the period. Heritage Wealth Advisors grew its holdings in shares of Taiwan Semiconductor Manufacturing by 20.0% during the 4th quarter. Heritage Wealth Advisors now owns 300 shares of the semiconductor company's stock worth $59,000 after purchasing an additional 50 shares during the period. First Heartland Consultants Inc. lifted its position in Taiwan Semiconductor Manufacturing by 4.2% during the 4th quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company's stock worth $244,000 after acquiring an additional 50 shares in the last quarter. Finally, Formidable Asset Management LLC lifted its position in Taiwan Semiconductor Manufacturing by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company's stock worth $317,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 16.51% of the company's stock.

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.