Taiwan Semiconductor Manufacturing (NYSE:TSM) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Several other analysts have also commented on TSM. Weiss Ratings reiterated a “buy (b-)” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Monday, December 1st. Citigroup reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 17th. 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 report on Friday, October 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $360.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Monday, October 27th. Finally, Susquehanna increased their price target on Taiwan Semiconductor Manufacturing from $300.00 to $400.00 and gave the stock a “positive” rating in a research note on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $355.00.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM opened at $301.48 on Friday. The stock has a 50 day moving average of $292.40 and a 200 day moving average of $254.13. The company has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 30.92, a PEG ratio of 1.01 and a beta of 1.31. Taiwan Semiconductor Manufacturing has a 12 month low of $134.25 and a 12 month high of $311.37. 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) last announced its quarterly earnings data on Thursday, October 16th. The semiconductor company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 34.34% and a net margin of 43.72%.The business’s revenue for the quarter was up 40.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 EPS. As a group, sell-side analysts forecast that Taiwan Semiconductor Manufacturing will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Tuesday, March 17th will be given a $0.9678 dividend. This represents a $3.87 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, March 17th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 26.67%.

Institutional Trading of Taiwan Semiconductor Manufacturing

Several institutional investors and hedge funds have recently bought and sold shares of TSM. 1248 Management LLC purchased a new position in Taiwan Semiconductor Manufacturing in the 1st quarter worth approximately $28,000. Heartwood Wealth Advisors LLC purchased a new position in Taiwan Semiconductor Manufacturing during the 3rd quarter valued at $32,000. Resources Management Corp CT ADV bought a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter valued at approximately $32,000. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter worth approximately $33,000. Finally, First Command Advisory Services Inc. increased its stake in Taiwan Semiconductor Manufacturing by 174.1% during the 2nd quarter. First Command Advisory Services Inc. now owns 159 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 101 shares in the last quarter. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

About Taiwan Semiconductor Manufacturing

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.