Taiwan Semiconductor Manufacturing (NYSE:TSM) Shares Down 3% – What’s Next?

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) dropped 3% during trading on Monday . The company traded as low as $183.71 and last traded at $184.47. Approximately 6,362,393 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 15,304,020 shares. The stock had previously closed at $190.08.

Analysts Set New Price Targets

A number of research firms recently weighed in on TSM. Barclays boosted their price target on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Needham & Company LLC restated a “buy” rating and issued a $210.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, October 17th. Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Finally, StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and an average target price of $214.00.

Taiwan Semiconductor Manufacturing Stock Down 1.4 %

The stock has a market capitalization of $939.73 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 0.85 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30. The business has a fifty day moving average of $188.85 and a 200 day moving average of $174.71.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.20. The business had revenue of $23.50 billion during the quarter, compared to analysts’ expectations of $22.72 billion. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%. As a group, equities analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Tuesday, March 18th will be paid a $0.5484 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 1.21%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Tuesday, March 18th. Taiwan Semiconductor Manufacturing’s payout ratio is 31.57%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Hedge funds have recently made changes to their positions in the stock. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing during the second quarter worth $25,000. Reston Wealth Management LLC purchased a new position in Taiwan Semiconductor Manufacturing during the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new position in Taiwan Semiconductor Manufacturing in the 2nd quarter valued at about $27,000. Olistico Wealth LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the second quarter worth about $27,000. Finally, NewSquare Capital LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter worth about $29,000. Hedge funds and other 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.