6,558 Shares in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Bought by Prescott Group Capital Management L.L.C.

Key Points

• Prescott Group Capital Management L.L.C. acquired 6,558 shares in Taiwan Semiconductor Manufacturing Company (TSMC), valued at approximately $1,089,000 during the first quarter.
• Several hedge funds have increased their stakes in TSMC, leading to a total of 16.51% of the stock being owned by institutional investors and hedge funds.
• TSMC reported a quarterly earnings per share (EPS) of $2.47, surpassing the expected $2.13, with revenue of $30.07 billion, indicating a year-over-year growth of 44.4%.

Prescott Group Capital Management L.L.C. acquired a new position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,558 shares of the semiconductor company's stock, valued at approximately $1,089,000.

Other institutional investors also recently modified their holdings of the company. Accredited Wealth Management LLC bought a new position in Taiwan Semiconductor Manufacturing in the 4th quarter valued at $31,000. City Holding Co. raised its position in shares of Taiwan Semiconductor Manufacturing by 238.0% during the first quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 119 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its position in shares of Taiwan Semiconductor Manufacturing by 289.4% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company's stock worth $36,000 after acquiring an additional 136 shares during the last quarter. Nemes Rush Group LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 1,810.0% during the fourth quarter. Nemes Rush Group LLC now owns 191 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 181 shares during the last quarter. Finally, Signature Resources Capital Management LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 138.8% during the first quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds own 16.51% of the company's stock.

Analysts Set New Price Targets

TSM has been the subject of a number of analyst reports. Susquehanna lifted their price objective on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research note on Monday, July 14th. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Barclays restated an "overweight" rating and issued a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.33.

Taiwan Semiconductor Manufacturing Stock Down 1.3%

Shares of TSM traded down $3.13 during trading hours on Monday, hitting $242.47. The stock had a trading volume of 7,018,332 shares, compared to its average volume of 15,566,625. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 2.18. The firm has a 50 day simple moving average of $217.47 and a 200-day simple moving average of $194.66. The firm has a market capitalization of $1.26 trillion, a P/E ratio of 27.63, a price-to-earnings-growth ratio of 1.18 and a beta of 1.29. Taiwan Semiconductor Manufacturing Company Ltd. has a 1-year low of $133.57 and a 1-year high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 34.53%. The firm had revenue of $30.07 billion for the quarter, compared to analysts' expectations of $28.50 billion. During the same quarter last year, the firm earned $1.48 EPS. The company's quarterly revenue was up 44.4% compared to the same quarter last year. Sell-side analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be issued a $0.6499 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 annualized dividend and a yield of 1.07%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 29.65%.

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.