Adams Wealth Management Grows Stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Adams Wealth Management increased its stake in Taiwan Semiconductor Manufacturing Company (TSM) by 10.6%, bringing its total holdings to 17,901 shares, valued at approximately $2.97 million.
• TSMC reported a quarterly earnings per share (EPS) of $2.47, exceeding analysts' expectations of $2.13, with quarterly revenue hitting $30.07 billion, a 44.4% increase from the same period last year.
• Analysts have set target prices for TSM, with Needham & Company maintaining a buy rating and a target of $270, while the average target price is estimated at $258.33.

Adams Wealth Management increased its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 10.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,901 shares of the semiconductor company's stock after purchasing an additional 1,710 shares during the quarter. Adams Wealth Management's holdings in Taiwan Semiconductor Manufacturing were worth $2,971,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TSM. Brighton Jones LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 20.9% during the fourth quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company's stock worth $2,159,000 after purchasing an additional 1,892 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in Taiwan Semiconductor Manufacturing by 69.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 4,870 shares of the semiconductor company's stock valued at $962,000 after buying an additional 2,000 shares in the last quarter. NFJ Investment Group LLC grew its holdings in Taiwan Semiconductor Manufacturing by 79.1% during the 4th quarter. NFJ Investment Group LLC now owns 6,091 shares of the semiconductor company's stock valued at $1,203,000 after buying an additional 2,690 shares in the last quarter. Zacks Investment Management grew its holdings in Taiwan Semiconductor Manufacturing by 1.3% during the 4th quarter. Zacks Investment Management now owns 7,924 shares of the semiconductor company's stock valued at $1,565,000 after buying an additional 104 shares in the last quarter. Finally, Capital International Sarl grew its holdings in Taiwan Semiconductor Manufacturing by 14.1% during the 4th quarter. Capital International Sarl now owns 102,857 shares of the semiconductor company's stock valued at $20,313,000 after buying an additional 12,700 shares in the last quarter. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM stock opened at $238.97 on Friday. Taiwan Semiconductor Manufacturing Company Ltd. has a 52-week low of $134.25 and a 52-week high of $248.28. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.15 and a current ratio of 2.37. The firm has a market capitalization of $1.24 trillion, a P/E ratio of 27.25, a P/E/G ratio of 1.17 and a beta of 1.19. The stock has a 50 day moving average price of $230.48 and a 200 day moving average price of $197.90.

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

Analysts Set New Price Targets

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

Taiwan Semiconductor Manufacturing Profile

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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