Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Shares Acquired by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp significantly increased its stake in Taiwan Semiconductor Manufacturing Company by 110.3%, owning 293,607 shares valued at approximately $48.7 million as of the end of the last quarter.
• Several hedge funds have also boosted their holdings in Taiwan Semiconductor Manufacturing, with 16.51% of the stock now owned by institutional investors.
• The company reported strong quarterly earnings, with $30.07 billion in revenue, surpassing expectations, and achieving a net margin of 42.91%.

Alberta Investment Management Corp grew its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 110.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 293,607 shares of the semiconductor company's stock after acquiring an additional 154,022 shares during the quarter. Alberta Investment Management Corp's holdings in Taiwan Semiconductor Manufacturing were worth $48,739,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. First Heartland Consultants Inc. boosted its position in Taiwan Semiconductor Manufacturing by 4.2% during the 4th quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company's stock valued at $244,000 after purchasing an additional 50 shares during the period. Formidable Asset Management LLC boosted its position in Taiwan Semiconductor Manufacturing by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company's stock valued at $317,000 after purchasing an additional 50 shares during the period. Connecticut Wealth Management LLC boosted its position in Taiwan Semiconductor Manufacturing by 0.7% during the 4th quarter. Connecticut Wealth Management LLC now owns 7,416 shares of the semiconductor company's stock valued at $1,465,000 after purchasing an additional 55 shares during the period. WealthCollab LLC boosted its position in Taiwan Semiconductor Manufacturing by 6.7% during the 4th quarter. WealthCollab LLC now owns 891 shares of the semiconductor company's stock valued at $176,000 after purchasing an additional 56 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC boosted its position in Taiwan Semiconductor Manufacturing by 1.1% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 5,455 shares of the semiconductor company's stock valued at $1,077,000 after purchasing an additional 59 shares during the period. 16.51% of the stock is currently owned by institutional investors.

Taiwan Semiconductor Manufacturing Stock Performance

TSM stock traded down $6.34 during trading on Friday, reaching $235.28. 13,529,531 shares of the company's stock were exchanged, compared to its average volume of 11,692,207. The company has a quick ratio of 2.18, a current ratio of 2.37 and a debt-to-equity ratio of 0.18. Taiwan Semiconductor Manufacturing Company Ltd. has a 1-year low of $133.57 and a 1-year high of $248.28. The company's fifty day moving average price is $222.20 and its 200-day moving average price is $196.06. The firm has a market cap of $1.22 trillion, a PE ratio of 26.83, a P/E/G ratio of 1.16 and a beta of 1.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.34. The business had revenue of $30.07 billion during 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 company's revenue was up 44.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 earnings per share. On average, research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 dividend yield of 1.1%. Taiwan Semiconductor Manufacturing's dividend payout ratio is 28.16%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TSM shares. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Barclays reiterated 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. Susquehanna boosted their price target on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research report on Monday, July 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.33.

Taiwan Semiconductor Manufacturing Company 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.