Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 4.3% – Should You Sell?

by · The Markets Daily

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM – Get Free Report)’s share price fell 4.3% during trading on Friday . The company traded as low as $290.98 and last traded at $291.8680. 19,225,236 shares traded hands during mid-day trading, an increase of 35% from the average session volume of 14,259,478 shares. The stock had previously closed at $304.85.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TSM. Sanford C. Bernstein upped their price objective on shares of Taiwan Semiconductor Manufacturing from $290.00 to $330.00 and gave the company an “outperform” rating in a research note on Sunday. Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 17th. Itau BBA Securities initiated coverage on Taiwan Semiconductor Manufacturing in a research note on Tuesday, October 7th. They issued an “outperform” rating on the stock. Needham & Company LLC reissued a “buy” rating and set a $360.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Monday, October 27th. Finally, UBS Group set a $330.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Sunday. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $355.00.

Check Out Our Latest Research Report on Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Stock Down 4.3%

The company’s 50 day simple moving average is $293.66 and its 200-day simple moving average is $255.65. The firm has a market cap of $1.51 trillion, a P/E ratio of 29.94, a PEG ratio of 1.07 and a beta of 1.31. The company has a current ratio of 2.69, a quick ratio of 2.47 and a debt-to-equity ratio of 0.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM – Get Free Report) last announced its earnings results on Thursday, October 16th. The semiconductor company reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.33. The business had revenue of $32.36 billion during the quarter, compared to analysts’ expectations of $951.89 billion. Taiwan Semiconductor Manufacturing had a net margin of 43.72% and a return on equity of 34.34%. The firm’s revenue was up 40.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.94 earnings per share. Research analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.9678 per share. 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 yield of 1.3%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 25.74%.

Hedge Funds Weigh In On Taiwan Semiconductor Manufacturing

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fisher Asset Management LLC boosted its position in Taiwan Semiconductor Manufacturing by 1.0% during the third quarter. Fisher Asset Management LLC now owns 17,833,127 shares of the semiconductor company’s stock worth $4,980,614,000 after purchasing an additional 168,171 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Taiwan Semiconductor Manufacturing by 3.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 15,759,419 shares of the semiconductor company’s stock worth $4,401,448,000 after acquiring an additional 541,047 shares in the last quarter. Bank of America Corp DE grew its holdings in Taiwan Semiconductor Manufacturing by 0.9% during the 3rd quarter. Bank of America Corp DE now owns 14,935,893 shares of the semiconductor company’s stock worth $4,171,445,000 after acquiring an additional 130,173 shares in the last quarter. Jennison Associates LLC lifted its stake in Taiwan Semiconductor Manufacturing by 4.5% during the third quarter. Jennison Associates LLC now owns 12,591,542 shares of the semiconductor company’s stock worth $3,516,692,000 after purchasing an additional 544,750 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Taiwan Semiconductor Manufacturing by 19.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,350,239 shares of the semiconductor company’s stock worth $2,050,141,000 after purchasing an additional 1,984,835 shares during the last quarter. 16.51% of the stock is owned by hedge funds and other 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.

Recommended Stories