AlphaCore Capital LLC Increases Stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• AlphaCore Capital LLC increased its stake in Taiwan Semiconductor Manufacturing Company by 43.7%, holding 18,760 shares valued at approximately $3.13 million.
• Analysts have raised their price targets for Taiwan Semiconductor Manufacturing, with consensus estimates predicting a price target of $258.33 and a rating of "Moderate Buy."
• The company reported a quarterly earnings surprise with $2.47 EPS, surpassing the expectation of $2.13, alongside a revenue of $30.07 billion, up 44.4% year-over-year.

AlphaCore Capital LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 43.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,760 shares of the semiconductor company's stock after acquiring an additional 5,705 shares during the quarter. AlphaCore Capital LLC's holdings in Taiwan Semiconductor Manufacturing were worth $3,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. City Holding Co. increased its holdings in shares of Taiwan Semiconductor Manufacturing by 238.0% in the first quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 119 shares during the period. Accredited Wealth Management LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $31,000. Signature Resources Capital Management LLC lifted its holdings 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 worth $32,000 after acquiring an additional 111 shares during the last quarter. Graybill Wealth Management LTD. bought a new stake in Taiwan Semiconductor Manufacturing in the first quarter worth $33,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 1st quarter valued at about $33,000. 16.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Susquehanna increased 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. Barclays restated an "overweight" rating and set a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Finally, 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Taiwan Semiconductor Manufacturing has a consensus rating of "Moderate Buy" and a consensus price target of $258.33.

Taiwan Semiconductor Manufacturing Trading Up 4.7%

Taiwan Semiconductor Manufacturing stock opened at $242.27 on Friday. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $134.25 and a one year high of $248.28. The business's fifty day moving average is $225.43 and its 200 day moving average is $196.75. The stock has a market capitalization of $1.26 trillion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 1.12 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.37 and a quick ratio of 2.15.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released 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 firm had revenue of $30.07 billion during the quarter, compared to analysts' expectations of $28.50 billion. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 32.87%. The firm's quarterly revenue was up 44.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 earnings per share. On average, sell-side 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 declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be paid a $0.6499 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is 28.16%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.