Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 2.6% - Should You Sell?

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

Analyst Ratings Changes

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

Taiwan Semiconductor Manufacturing Stock Down 2.4%

The company has a fifty day simple moving average of $200.39 and a 200-day simple moving average of $191.41. 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 firm has a market cap of $1.19 trillion, a P/E ratio of 29.46, a price-to-earnings-growth ratio of 1.22 and a beta of 1.29.

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

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be paid a $0.6499 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is 30.59%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

A number of hedge funds have recently made changes to their positions in TSM. New Vernon Capital Holdings II LLC boosted its stake in shares of 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 worth $1,113,373,000 after acquiring an additional 6,666,660 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Taiwan Semiconductor Manufacturing by 55.6% in 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 acquiring an additional 6,180,445 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Taiwan Semiconductor Manufacturing by 67.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock worth $2,047,065,000 after buying an additional 4,158,772 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the first quarter worth about $482,676,000. Finally, FMR LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 4.6% in the fourth quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock worth $11,562,498,000 after buying an additional 2,572,488 shares in the last quarter. Institutional investors own 16.51% of the company's stock.

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.