Corvex Management LP Takes Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Corvex Management LP acquired a new position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 200,854 shares of the semiconductor company's stock, valued at approximately $39,667,000. Taiwan Semiconductor Manufacturing makes up approximately 1.1% of Corvex Management LP's holdings, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSM. Mount Yale Investment Advisors LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing by 4.3% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 35,709 shares of the semiconductor company's stock valued at $7,052,000 after acquiring an additional 1,476 shares during the period. McHugh Group LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the 4th quarter valued at $605,000. OLD National Bancorp IN grew its position in Taiwan Semiconductor Manufacturing by 2.1% during the 4th quarter. OLD National Bancorp IN now owns 113,205 shares of the semiconductor company's stock worth $22,357,000 after purchasing an additional 2,368 shares during the period. Guardian Partners Inc. acquired a new position in Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $9,222,000. Finally, Hardman Johnston Global Advisors LLC increased its holdings in Taiwan Semiconductor Manufacturing by 7.6% in the fourth quarter. Hardman Johnston Global Advisors LLC now owns 381,432 shares of the semiconductor company's stock valued at $75,329,000 after buying an additional 26,847 shares in the last quarter. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSM has been the subject of several research analyst reports. Barclays restated a "hold" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, April 25th. StockNews.com lowered Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Susquehanna reaffirmed a "positive" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, April 25th. Finally, Needham & Company LLC restated a "buy" rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $212.00.

Taiwan Semiconductor Manufacturing Trading Up 1.4 %

Shares of NYSE TSM traded up $2.42 during midday trading on Wednesday, hitting $174.70. The stock had a trading volume of 9,679,133 shares, compared to its average volume of 15,885,335. The company has a fifty day moving average price of $165.76 and a 200 day moving average price of $188.00. Taiwan Semiconductor Manufacturing Company Limited has a 1-year low of $133.57 and a 1-year high of $226.40. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $906.08 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 0.66 and a beta of 1.21.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The business had revenue of $25.82 billion for the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. On average, analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be paid a dividend of $0.6855 per share. This is a boost from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.55. This represents a $2.74 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, June 12th. Taiwan Semiconductor Manufacturing's payout ratio is currently 27.76%.

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.