Taiwan Semiconductor Manufacturing (NYSE:TSM) Trading Down 1.1% – What’s Next?

by · The Cerbat Gem

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM – Get Free Report) traded down 1.1% on Friday . The company traded as low as $201.60 and last traded at $203.49. 7,851,809 shares traded hands during trading, a decline of 50% from the average session volume of 15,565,708 shares. The stock had previously closed at $205.84.

Analysts Set New Price Targets

TSM has been the subject of a number of research reports. Susquehanna reissued a “positive” rating and issued a $250.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Wednesday, August 14th. TD Cowen boosted 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 reiterated a “buy” rating and set a $210.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday. Finally, Sanford C. Bernstein upped their target price on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Taiwan Semiconductor Manufacturing has a consensus rating of “Moderate Buy” and an average target price of $200.00.

Get Our Latest Analysis on TSM

Taiwan Semiconductor Manufacturing Price Performance

The company has a market capitalization of $1.05 trillion, a P/E ratio of 38.76, a price-to-earnings-growth ratio of 1.13 and a beta of 1.14. The business’s 50-day moving average is $174.64 and its two-hundred day moving average is $163.69. The company has a quick ratio of 2.21, a current ratio of 2.47 and a debt-to-equity ratio of 0.26.

Taiwan Semiconductor Manufacturing (NYSE:TSM – Get Free Report) last announced its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. The firm had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.33 billion. Taiwan Semiconductor Manufacturing had a return on equity of 25.54% and a net margin of 37.85%. The company’s revenue was up 34.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 EPS. As a group, analysts predict 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. Shareholders 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 represents a $1.95 annualized dividend and a yield of 0.96%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s payout ratio is currently 36.95%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several institutional investors have recently added to or reduced their stakes in TSM. Van ECK Associates Corp boosted its stake in Taiwan Semiconductor Manufacturing by 53.4% in the first quarter. Van ECK Associates Corp now owns 17,416,194 shares of the semiconductor company’s stock valued at $2,369,473,000 after acquiring an additional 6,060,511 shares during the last quarter. Capital International Investors increased its holdings in Taiwan Semiconductor Manufacturing by 40.2% in the 1st quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock worth $2,679,602,000 after acquiring an additional 5,643,949 shares during the last quarter. PineStone Asset Management Inc. raised its stake in Taiwan Semiconductor Manufacturing by 116.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,784,316 shares of the semiconductor company’s stock valued at $1,352,992,000 after acquiring an additional 4,186,133 shares during the period. Clearbridge Investments LLC boosted its position in Taiwan Semiconductor Manufacturing by 669.7% during the second quarter. Clearbridge Investments LLC now owns 3,721,489 shares of the semiconductor company’s stock worth $646,832,000 after purchasing an additional 3,237,998 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Taiwan Semiconductor Manufacturing by 1,226.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,983,830 shares of the semiconductor company’s stock valued at $344,809,000 after buying an additional 1,834,298 shares in the last quarter. 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.

Recommended Stories