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

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was down 3% 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 traded hands during trading, a decline of 70% from the average daily volume of 18,426,793 shares. The stock had previously closed at $151.74.

TSM has been the subject of several other research reports. StockNews.com downgraded Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Needham & Company LLC restated a “buy” rating and set a $225.00 price objective 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 on the stock in a research note on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $212.00.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several large investors have recently bought and sold shares of TSM. Accel Wealth Management lifted its holdings in Taiwan Semiconductor Manufacturing by 2.5% during the fourth quarter. Accel Wealth Management now owns 2,037 shares of the semiconductor company’s stock worth $402,000 after acquiring an additional 49 shares during the period. Elmwood Wealth Management Inc. raised its stake in shares of Taiwan Semiconductor Manufacturing by 3.7% during the 4th 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 grew its position in Taiwan Semiconductor Manufacturing by 1.2% during the fourth quarter. WP Advisors LLC now owns 4,271 shares of the semiconductor company’s stock valued at $843,000 after buying an additional 50 shares during the period. Heritage Wealth Advisors increased its holdings in Taiwan Semiconductor Manufacturing by 20.0% during the fourth 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 Taiwan Semiconductor Manufacturing by 4.2% in the fourth quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company’s stock worth $244,000 after acquiring an additional 50 shares during the period. 16.51% of the stock is currently owned by institutional investors.

Taiwan Semiconductor Manufacturing Trading Down 2.4 %

The firm’s 50-day simple moving average is $172.56 and its 200 day simple moving average is $189.92. The firm has a market cap of $767.80 billion, a P/E ratio of 21.03, a price-to-earnings-growth 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.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. The business had revenue of $25.82 billion for the quarter, compared to the consensus estimate 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 expect that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be paid a $0.6855 dividend. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $2.74 annualized dividend and a dividend yield of 1.85%. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 30.68%.

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.