AI Squared Management Ltd Purchases 34,300 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• AI Squared Management Ltd significantly increased its holdings in Taiwan Semiconductor Manufacturing Company by 145.4%, acquiring an additional 34,300 shares in the first quarter, now holding 57,895 shares valued at $9.6 million.
• Analysts have set new price targets for Taiwan Semiconductor Manufacturing, with a consensus price target of $258.33 and strong ratings from firms like Needham & Company and Barclays.
• The company reported a Q2 earnings per share of $2.47, surpassing estimates, and a revenue of $30.07 billion, indicating a year-over-year growth of 44.4%.

AI Squared Management Ltd boosted its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 145.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,895 shares of the semiconductor company's stock after buying an additional 34,300 shares during the quarter. Taiwan Semiconductor Manufacturing makes up about 9.0% of AI Squared Management Ltd's portfolio, making the stock its 2nd biggest position. AI Squared Management Ltd's holdings in Taiwan Semiconductor Manufacturing were worth $9,611,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. City Holding Co. boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 238.0% in the 1st quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 119 shares in the last quarter. Accredited Wealth Management LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth $31,000. Signature Resources Capital Management LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 138.8% in the 1st quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 111 shares during the last quarter. Graybill Wealth Management LTD. acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the 1st quarter valued at $33,000. Finally, Vision Financial Markets LLC acquired a new position in Taiwan Semiconductor Manufacturing in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 16.51% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on TSM. Needham & Company LLC reiterated a "buy" rating and set a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Barclays restated an "overweight" rating and issued a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Finally, Susquehanna increased their price target 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. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.33.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of Taiwan Semiconductor Manufacturing stock opened at $231.26 on Thursday. The company has a market cap of $1.20 trillion, a PE ratio of 26.37, a price-to-earnings-growth 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 has a 50 day moving average price of $224.53 and a 200-day moving average price of $196.54.

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

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a dividend yield of 1.1%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is currently 29.65%.

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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