Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 2.3% – Here’s What Happened

by · The Markets Daily

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM – Get Free Report) shares were down 2.3% on Wednesday . The stock traded as low as $187.27 and last traded at $187.27. Approximately 4,665,208 shares changed hands during trading, a decline of 70% from the average daily volume of 15,432,608 shares. The stock had previously closed at $191.77.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays raised their target price on shares of Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. TD Cowen lifted their price objective on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Susquehanna restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, October 17th. Finally, StockNews.com raised Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and a consensus price target of $209.00.

Get Our Latest Analysis on TSM

Taiwan Semiconductor Manufacturing Stock Down 2.5 %

The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $969.34 billion, a P/E ratio of 30.01, a PEG ratio of 0.91 and a beta of 1.12. The stock has a 50 day moving average price of $184.19 and a 200 day moving average price of $171.37.

Taiwan Semiconductor Manufacturing (NYSE:TSM – Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a return on equity of 27.30% and a net margin of 39.10%. The business had revenue of $23.50 billion during the quarter, compared to the consensus estimate of $22.72 billion. On average, research analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

A number of institutional investors have recently modified their holdings of TSM. FMR LLC increased its holdings in Taiwan Semiconductor Manufacturing by 7.2% in the third quarter. FMR LLC now owns 55,974,769 shares of the semiconductor company’s stock worth $9,721,138,000 after purchasing an additional 3,783,802 shares in the last quarter. Capital World Investors increased its holdings in Taiwan Semiconductor Manufacturing by 1.7% during the first quarter. Capital World Investors now owns 42,061,083 shares of the semiconductor company’s stock worth $5,722,410,000 after buying an additional 704,804 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 1.3% in the 3rd quarter. Fisher Asset Management LLC now owns 28,767,106 shares of the semiconductor company’s stock worth $4,995,984,000 after purchasing an additional 359,854 shares during the period. Capital International Investors lifted its stake in Taiwan Semiconductor Manufacturing by 40.2% in the first quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock valued at $2,679,602,000 after purchasing an additional 5,643,949 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Taiwan Semiconductor Manufacturing by 0.7% in the third quarter. Van ECK Associates Corp now owns 18,289,993 shares of the semiconductor company’s stock valued at $3,176,423,000 after purchasing an additional 122,828 shares during the last quarter. 16.51% of the stock is owned by institutional investors.

Taiwan Semiconductor Manufacturing Company Profile

(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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