Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 3% After Analyst Downgrade

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Get Free Report) dropped 3% during mid-day trading on Monday after Barclays lowered their price target on the stock from $255.00 to $215.00. Barclays currently has an overweight rating on the stock. Taiwan Semiconductor Manufacturing traded as low as $146.23 and last traded at $147.22. Approximately 5,555,451 shares were traded during trading, a decline of 70% from the average daily volume of 18,426,793 shares. The stock had previously closed at $151.74.

Several other research firms have also weighed in on TSM. StockNews.com lowered Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Finally, Susquehanna dropped their price objective on shares of Taiwan Semiconductor Manufacturing from $265.00 to $250.00 and set a "positive" rating for the company in a research note on Thursday, April 17th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.00.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several hedge funds have recently made changes to their positions in the business. Accel Wealth Management grew its holdings in Taiwan Semiconductor Manufacturing by 2.5% in the 4th quarter. Accel Wealth Management now owns 2,037 shares of the semiconductor company's stock valued at $402,000 after buying an additional 49 shares during the period. Elmwood Wealth Management Inc. raised its stake in Taiwan Semiconductor Manufacturing by 3.7% during the fourth quarter. Elmwood Wealth Management Inc. now owns 1,405 shares of the semiconductor company's stock worth $277,000 after purchasing an additional 50 shares during the period. WP Advisors LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 1.2% in the 4th quarter. WP Advisors LLC now owns 4,271 shares of the semiconductor company's stock valued at $843,000 after purchasing an additional 50 shares during the last quarter. Heritage Wealth Advisors increased 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 buying an additional 50 shares during the last quarter. Finally, First Heartland Consultants Inc. raised its position in shares of Taiwan Semiconductor Manufacturing by 4.2% in the 4th quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company's stock worth $244,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Up 0.7 %

The stock has a market cap of $857.21 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 0.66 and a beta of 1.16. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average of $169.09 and a two-hundred day moving average of $189.15.

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

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be given a dividend of $0.6855 per share. This represents a $2.74 dividend on an annualized basis and a yield of 1.66%. This is a boost from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.55. The ex-dividend date is Thursday, June 12th. Taiwan Semiconductor Manufacturing's dividend payout ratio is 27.76%.

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.