Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 1.2% on Analyst Downgrade

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)’s stock price fell 1.2% during trading on Monday after Wall Street Zen downgraded the stock from a buy rating to a hold rating. The company traded as low as $283.19 and last traded at $288.0040. 7,554,549 shares were traded during mid-day trading, a decline of 47% from the average session volume of 14,345,986 shares. The stock had previously closed at $291.51.

A number of other equities research analysts have also recently commented on the company. Citigroup reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, November 25th. Barclays raised their target price on Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Needham & Company LLC restated a “buy” rating and issued a $360.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Monday, October 27th. Finally, Itau BBA Securities assumed coverage on Taiwan Semiconductor Manufacturing in a research report on Tuesday, October 7th. They issued an “outperform” rating on the stock. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $371.67.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP grew its holdings in Taiwan Semiconductor Manufacturing by 10.3% in the third quarter. Allworth Financial LP now owns 36,064 shares of the semiconductor company’s stock valued at $10,072,000 after purchasing an additional 3,358 shares during the period. Investment Research Partners LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 3rd quarter worth about $1,089,000. Cambria Investment Management L.P. lifted its stake in Taiwan Semiconductor Manufacturing by 169.8% in the 3rd quarter. Cambria Investment Management L.P. now owns 3,257 shares of the semiconductor company’s stock valued at $910,000 after buying an additional 2,050 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in Taiwan Semiconductor Manufacturing in the 3rd quarter worth about $230,000. Finally, Trust Investment Advisors increased its stake in Taiwan Semiconductor Manufacturing by 0.4% during the 3rd quarter. Trust Investment Advisors now owns 19,238 shares of the semiconductor company’s stock worth $5,373,000 after buying an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Stock Up 1.6%

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.37 and a quick ratio of 2.15. The business has a fifty day simple moving average of $290.81 and a 200 day simple moving average of $251.25. The firm has a market cap of $1.52 trillion, a price-to-earnings ratio of 29.99, a PEG ratio of 1.02 and a beta of 1.31.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings data on Thursday, October 16th. The semiconductor company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.59 by $0.33. The firm had revenue of $32.36 billion during the quarter, compared to the consensus estimate of $951.89 billion. Taiwan Semiconductor Manufacturing had a return on equity of 36.06% and a net margin of 43.72%.The firm’s revenue was up 40.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.94 EPS. As a group, equities analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 17th will be paid a $0.9678 dividend. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $3.87 dividend on an annualized basis and a dividend yield of 1.3%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 25.74%.

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.