Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 2.9% – Should You Sell?

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares were down 2.9% on Tuesday . The company traded as low as $184.25 and last traded at $186.69. Approximately 7,923,799 shares traded hands during trading, a decline of 48% from the average daily volume of 15,284,265 shares. The stock had previously closed at $192.21.

Analysts Set New Price Targets

Several research firms have recently issued reports on TSM. TD Cowen raised their price target 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. Needham & Company LLC lifted their target price on Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Sanford C. Bernstein increased their price target on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Finally, Susquehanna restated a “positive” rating and set a $250.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.00.

Taiwan Semiconductor Manufacturing Stock Performance

The company has a 50-day moving average price of $172.53 and a two-hundred day moving average price of $162.86. The company has a current ratio of 2.47, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $969.50 billion, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings data on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.11. Taiwan Semiconductor Manufacturing had a return on equity of 25.54% and a net margin of 37.85%. The firm had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.33 billion. During the same period last year, the company posted $1.14 EPS. The business’s quarterly revenue was up 34.6% on a year-over-year basis. On average, equities analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be given a $0.4871 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $1.95 annualized dividend and a dividend yield of 1.04%. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 35.24%.

Institutional Trading of Taiwan Semiconductor Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RDA Financial Network increased its position in Taiwan Semiconductor Manufacturing by 166.2% in the 3rd quarter. RDA Financial Network now owns 10,183 shares of the semiconductor company’s stock valued at $1,768,000 after buying an additional 6,358 shares in the last quarter. Trust Co. of Oklahoma increased its position in Taiwan Semiconductor Manufacturing by 4.4% in the 3rd quarter. Trust Co. of Oklahoma now owns 5,464 shares of the semiconductor company’s stock valued at $949,000 after buying an additional 229 shares in the last quarter. Ulland Investment Advisors LLC bought a new stake in Taiwan Semiconductor Manufacturing in the 3rd quarter valued at about $58,000. Boomfish Wealth Group LLC bought a new stake in Taiwan Semiconductor Manufacturing in the 3rd quarter valued at about $886,000. Finally, Michael S. Ryan Inc. increased its position in Taiwan Semiconductor Manufacturing by 3.1% in the 3rd quarter. Michael S. Ryan Inc. now owns 3,339 shares of the semiconductor company’s stock valued at $580,000 after buying an additional 99 shares in the last quarter. 16.51% of the stock is owned by institutional investors.

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.