Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock Price Down 0.1% - Here's What Happened

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) experienced a slight decline in its stock price, dropping by 0.1% during mid-day trading on Tuesday. The stock hit a low of $183.87 before settling at a price of $184.86. During this session, a total of 2,949,424 shares were traded, which is a significant drop of 81% compared to the average trading volume of 15,285,150 shares. The previous closing price for the stock was $185.08.

Wall Street Analysts Forecast Growth

Several analysts have recently shared their views on Taiwan Semiconductor Manufacturing's stock. StockNews.com has downgraded the company's shares from a 'buy' rating to a 'hold' rating as of November 17th. However, Susquehanna reaffirmed a 'buy' rating on October 18th. Needham & Company reaffirmed a 'buy' rating along with a target price of $210.00 on October 17th. Additionally, Barclays raised its price target for the company from $215.00 to $240.00, giving it an 'overweight' rating on November 18th. Currently, two analysts have a hold rating on the stock while four recommend buying. According to MarketBeat, the average rating for Taiwan Semiconductor is 'Moderate Buy,' with an average target price set at $214.00.

Taiwan Semiconductor Manufacturing Stock Down 1.3%

The company’s debt-to-equity ratio stands at 0.24, with a quick ratio of 2.30 and a current ratio of 2.57. Taiwan Semiconductor Manufacturing has a market cap of approximately $947.56 billion, a price-to-earnings ratio of 29.63, and a price-to-earnings-growth ratio of 0.88. The stock also has a beta of 1.12. The 50-day simple moving average for the stock is $188.24 while the 200-day average stands at $174.42.

Taiwan Semiconductor Manufacturing Reports Earnings

The company recently announced its earnings results on October 17th. Taiwan Semiconductor reported earnings per share (EPS) of $1.94 for the quarter, surpassing analysts' expectations of $1.74 by $0.20. The company posted revenue of $23.50 billion, which also exceeded the consensus estimate of $22.72 billion. With this performance, the company achieved a return on equity of 27.44% and a net margin of 39.10%. Analysts predict that Taiwan Semiconductor will report 6.95 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

In addition to its stock performance, Taiwan Semiconductor announced an increase in its quarterly dividend. The new dividend amount will be $0.5484, which will be paid out on April 10th, with an ex-dividend date set for March 18th. This marks an increase from the previous quarterly dividend of $0.49, amounting to an annualized dividend of $2.19 with a yield of 1.20%. The company’s payout ratio is currently 31.57%.

Hedge Funds Activity

Recent activities among hedge funds show that some have been acquiring shares in Taiwan Semiconductor Manufacturing. For instance, Atlantic Edge Private Wealth Management LLC purchased a new stake worth $25,000 in the second quarter. Other firms like Reston Wealth Management, Valley Wealth Managers, and Olistico Wealth also established new positions in the company during the year. Currently, institutional investors and hedge funds hold approximately 16.51% of the stock.

About Taiwan Semiconductor Manufacturing Company

Taiwan Semiconductor Manufacturing Company Limited, along with its subsidiaries, specializes in the manufacturing, packaging, testing, and sale of integrated circuits and other semiconductor devices across various regions including Taiwan, China, Europe, and the United States. The company offers a diverse range of wafer fabrication processes, catering to different semiconductor technologies including complementary metal-oxide-semiconductor (CMOS), mixed-signal, and radio frequency applications.

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Taiwan, Semiconductor, Stock