Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Shares Bought by Allen Investment Management LLC

Key Points

• Allen Investment Management LLC increased its stake in Taiwan Semiconductor Manufacturing Company by 40.1%, acquiring an additional 37,139 shares, bringing its total holdings to 129,762 shares worth approximately $21.54 million.
• Analysts have a generally favorable view of Taiwan Semiconductor Manufacturing, with an average rating of "Moderate Buy" and a consensus price target of $258.33, supported by recent upgrades from firms like Barclays and Citigroup.
• The company reported $2.47 earnings per share for the last quarter, significantly surpassing estimates, alongside revenue growth of 44.4% year-over-year, totaling $30.07 billion.

Allen Investment Management LLC raised its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 40.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,762 shares of the semiconductor company's stock after purchasing an additional 37,139 shares during the period. Allen Investment Management LLC's holdings in Taiwan Semiconductor Manufacturing were worth $21,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in Taiwan Semiconductor Manufacturing by 67.0% during 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 during the period. FMR LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing by 4.6% in the 4th quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock valued at $11,562,498,000 after acquiring an additional 2,572,488 shares during the period. Jennison Associates LLC increased its holdings in shares of 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 valued at $1,578,499,000 after acquiring an additional 2,559,512 shares during the period. Sarasin & Partners LLP acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the 1st quarter worth $362,773,000. Finally, Franklin Resources Inc. boosted its position in shares of Taiwan Semiconductor Manufacturing by 32.3% in the 4th quarter. Franklin Resources Inc. now owns 8,498,063 shares of the semiconductor company's stock worth $1,678,283,000 after purchasing an additional 2,074,329 shares in the last quarter. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Price Performance

NYSE:TSM traded up $3.95 during trading hours on Friday, hitting $245.55. 11,583,376 shares of the stock were exchanged, compared to its average volume of 11,641,382. Taiwan Semiconductor Manufacturing Company Ltd. has a 52-week low of $133.57 and a 52-week high of $248.28. The firm's fifty day moving average price is $217.47 and its 200 day moving average price is $194.75. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.27 trillion, a P/E ratio of 28.00, a P/E/G ratio of 1.18 and a beta of 1.29.

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

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be issued a $0.6499 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is presently 28.16%.

Analysts Set New Price Targets

TSM has been the subject of a number of research reports. 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. Susquehanna lifted their price target on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the company a "positive" rating in a research note on Monday, July 14th. Needham & Company LLC restated a "buy" rating and issued a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Finally, Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. One equities 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 has a consensus rating of "Moderate Buy" and an average 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.