Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 2.1% – What’s Next?

by · The Cerbat Gem

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM – Get Free Report) were down 2.1% during mid-day trading on Tuesday . The company traded as low as $223.20 and last traded at $221.73. Approximately 3,290,734 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 15,417,966 shares. The stock had previously closed at $226.49.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Barclays restated an “overweight” rating and set a $240.00 target price (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Needham & Company LLC boosted their price objective on Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Finally, Susquehanna lifted their target price on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a “positive” rating in a research report on Tuesday, June 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.75.

View Our Latest Stock Analysis on Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Stock Performance

The company has a 50 day simple moving average of $194.57 and a 200-day simple moving average of $190.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 2.18. The stock has a market cap of $1.17 trillion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM – Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.09. The company had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. On average, equities analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal 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 issued a $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.16%. Taiwan Semiconductor Manufacturing’s payout ratio is 30.59%.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Institutional investors have recently made changes to their positions in the business. IMG Wealth Management Inc. purchased a new stake in Taiwan Semiconductor Manufacturing during the fourth quarter valued at about $26,000. Hopwood Financial Services Inc. purchased a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $27,000. City Holding Co. grew its position in Taiwan Semiconductor Manufacturing by 238.0% during the 1st quarter. City Holding Co. now owns 169 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 119 shares during the last quarter. 1248 Management LLC bought a new position in Taiwan Semiconductor Manufacturing during the 1st quarter worth approximately $28,000. Finally, Accredited Wealth Management LLC purchased a new position in Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 16.51% of the company’s stock.

About Taiwan Semiconductor Manufacturing

(Get Free Report)

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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