AMI Asset Management Corp Sells 20,838 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

AMI Asset Management Corp reduced its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,885 shares of the semiconductor company's stock after selling 20,838 shares during the quarter. Taiwan Semiconductor Manufacturing accounts for approximately 2.1% of AMI Asset Management Corp's investment portfolio, making the stock its 22nd biggest holding. AMI Asset Management Corp's holdings in Taiwan Semiconductor Manufacturing were worth $36,169,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $26,000. Hopwood Financial Services Inc. acquired a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter valued at $27,000. City Holding Co. boosted its position in Taiwan Semiconductor Manufacturing by 238.0% during 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 acquired a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter valued at $31,000. Finally, Signature Resources Capital Management LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 138.8% in the first quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 111 shares during the period. Institutional investors and hedge funds own 16.51% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on TSM shares. Needham & Company LLC reaffirmed a "buy" rating and set a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Susquehanna raised their price objective on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a "positive" rating in a research report on Tuesday, June 17th. Barclays reissued an "overweight" rating and issued a $240.00 target price (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Finally, Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $222.50.

Taiwan Semiconductor Manufacturing Price Performance

NYSE TSM traded up $1.30 during midday trading on Thursday, hitting $224.04. The company had a trading volume of 7,972,636 shares, compared to its average volume of 15,447,828. The company has a market capitalization of $1.16 trillion, a PE ratio of 28.80, a P/E/G ratio of 1.14 and a beta of 1.27. Taiwan Semiconductor Manufacturing Company Ltd. has a twelve month low of $133.57 and a twelve month high of $226.40. 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 firm has a 50-day moving average price of $190.02 and a 200-day moving average price of $189.89.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The business had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. As a group, 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 company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 annualized dividend and a dividend yield of 1.16%. Taiwan Semiconductor Manufacturing's dividend payout ratio is 30.59%.

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.