Accuvest Global Advisors Acquires Shares of 1,371 Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Accuvest Global Advisors has acquired a new stake of 1,371 shares in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM), valued at approximately $228,000, during the first quarter.
• Multiple institutional investors, including Goldman Sachs and Price T Rowe Associates, have significantly increased their stakes in Taiwan Semiconductor, reflecting strong institutional interest.
• The company announced better-than-expected earnings for the quarter, with an EPS of $2.47, surpassing analysts' expectations by $0.34.

Accuvest Global Advisors acquired a new stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,371 shares of the semiconductor company's stock, valued at approximately $228,000.

Other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in Taiwan Semiconductor Manufacturing by 55.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company's stock worth $2,872,814,000 after purchasing an additional 6,180,445 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Taiwan Semiconductor Manufacturing by 67.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock worth $2,047,065,000 after purchasing an additional 4,158,772 shares in the last quarter. Jennison Associates LLC lifted its stake in Taiwan Semiconductor Manufacturing by 36.8% in the 1st quarter. Jennison Associates LLC now owns 9,509,032 shares of the semiconductor company's stock worth $1,578,499,000 after purchasing an additional 2,559,512 shares in the last quarter. Sarasin & Partners LLP purchased a new position in Taiwan Semiconductor Manufacturing in the 1st quarter worth approximately $362,773,000. Finally, Northern Trust Corp lifted its stake in Taiwan Semiconductor Manufacturing by 45.2% in the 4th quarter. Northern Trust Corp now owns 6,244,965 shares of the semiconductor company's stock worth $1,233,318,000 after purchasing an additional 1,944,328 shares in the last quarter. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Taiwan Semiconductor Manufacturing Stock Down 0.5%

Shares of NYSE TSM opened at $231.26 on Thursday. The firm has a market cap of $1.20 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.12 and a beta of 1.19. The company has a quick ratio of 2.15, a current ratio of 2.37 and a debt-to-equity ratio of 0.18. Taiwan Semiconductor Manufacturing Company Ltd. has a 52-week low of $134.25 and a 52-week high of $248.28. The business's 50 day moving average is $224.53 and its two-hundred day moving average is $196.54.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.34. The company had revenue of $30.07 billion for the quarter, compared to analyst estimates of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The firm's quarterly revenue was up 44.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.48 earnings per share. Research analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be given a $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a yield of 1.1%. Taiwan Semiconductor Manufacturing's payout ratio 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.

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