Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 2.8%

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) dropped 2.8% during mid-day trading on Friday . The stock traded as low as $126.75 and last traded at $128.61. Approximately 11,792,434 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 15,624,196 shares. The stock had previously closed at $132.27.

Analyst Upgrades and Downgrades

TSM has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Taiwan Semiconductor Manufacturing from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday. StockNews.com upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. TD Cowen boosted their target price on shares of Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the company a “hold” rating in a report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $168.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday. Finally, Susquehanna boosted their target price on shares of Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the company a “positive” rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing presently has an average rating of “Moderate Buy” and a consensus target price of $157.00.

Taiwan Semiconductor Manufacturing Stock Down 4.1 %

The firm’s fifty day moving average price is $136.61 and its two-hundred day moving average price is $112.74. The stock has a market cap of $657.74 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 1.06 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.40 and a quick ratio of 2.13.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, January 18th. The semiconductor company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.07. Taiwan Semiconductor Manufacturing had a net margin of 38.80% and a return on equity of 25.24%. The firm had revenue of $19.62 billion for the quarter, compared to analyst estimates of $18.99 billion. Sell-side analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.15 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Thursday, June 13th will be issued a $0.4408 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.39%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 33.20%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Valeo Financial Advisors LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 36.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 18,401 shares of the semiconductor company’s stock worth $2,503,000 after acquiring an additional 4,883 shares during the last quarter. SeaCrest Wealth Management LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 45.3% in the 1st quarter. SeaCrest Wealth Management LLC now owns 15,237 shares of the semiconductor company’s stock worth $2,073,000 after acquiring an additional 4,750 shares during the last quarter. Naviter Wealth LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 43.3% in the 1st quarter. Naviter Wealth LLC now owns 84,646 shares of the semiconductor company’s stock worth $11,562,000 after acquiring an additional 25,563 shares during the last quarter. Quattro Financial Advisors LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 4,707.7% in the 1st quarter. Quattro Financial Advisors LLC now owns 5,000 shares of the semiconductor company’s stock worth $680,000 after acquiring an additional 4,896 shares during the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the 1st quarter worth about $207,000. Institutional investors and hedge funds 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 complementary metal oxide silicon wafer fabrication processes to manufacture logic, mixed-signal, radio frequency, and embedded memory semiconductors.