Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 2.7% - What's Next?

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report) dropped 2.7% during mid-day trading on Friday . The company traded as low as $190.03 and last traded at $190.91. Approximately 4,247,728 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 15,855,885 shares. The stock had previously closed at $196.19.

Analysts Set New Price Targets

A number of equities research analysts have commented on TSM shares. Wall Street Zen cut Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th. Barclays reissued a "hold" rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, April 25th. Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday. Needham & Company LLC reiterated a "buy" rating and set a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, April 17th. Finally, Susquehanna restated a "positive" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, April 25th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing has a consensus rating of "Moderate Buy" and an average price target of $212.00.

Taiwan Semiconductor Manufacturing Stock Performance

The business's fifty day moving average is $168.94 and its two-hundred day moving average is $187.49. The stock has a market capitalization of $997.57 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 0.66 and a beta of 1.21. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. The business had revenue of $25.82 billion during the quarter, compared to analyst estimates of $834.10 billion. As a group, research analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a yield of 1.35%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 27.76%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several institutional investors have recently modified their holdings of TSM. Accel Wealth Management boosted its stake in Taiwan Semiconductor Manufacturing by 2.5% during the fourth quarter. Accel Wealth Management now owns 2,037 shares of the semiconductor company's stock worth $402,000 after buying an additional 49 shares during the period. WP Advisors LLC boosted its stake in shares of Taiwan Semiconductor Manufacturing by 1.2% during the 4th quarter. WP Advisors LLC now owns 4,271 shares of the semiconductor company's stock worth $843,000 after purchasing an additional 50 shares during the period. Heritage Wealth Advisors boosted its stake 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. grew its holdings 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 valued at $244,000 after purchasing an additional 50 shares during the last quarter. Finally, Formidable Asset Management LLC raised its position in Taiwan Semiconductor Manufacturing by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company's stock worth $317,000 after purchasing an additional 50 shares during the period. 16.51% of the stock is owned by 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.

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