Argent Trust Co Sells 1,240 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Argent Trust Co reduced its stake in Taiwan Semiconductor Manufacturing Company by 3.1%, selling 1,240 shares, and currently holds 38,570 shares valued at approximately $6.4 million.
• Several large investors significantly increased their positions in Taiwan Semiconductor during the last quarter, including Price T Rowe Associates which upped its holdings by 67%.
• Taiwan Semiconductor has a market cap of $1.22 trillion and reported earnings of $2.47 per share in its latest quarterly results, surpassing analysts' estimates.

Argent Trust Co trimmed its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 3.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 38,570 shares of the semiconductor company's stock after selling 1,240 shares during the quarter. Argent Trust Co's holdings in Taiwan Semiconductor Manufacturing were worth $6,403,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TSM. Price T Rowe Associates Inc. MD increased its holdings in Taiwan Semiconductor Manufacturing by 67.0% in 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 buying an additional 4,158,772 shares in the last quarter. FMR LLC increased its holdings in Taiwan Semiconductor Manufacturing by 4.6% in the 4th quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock worth $11,562,498,000 after buying an additional 2,572,488 shares in the last quarter. Jennison Associates LLC increased its holdings in 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 worth $1,578,499,000 after buying an additional 2,559,512 shares in the last quarter. Sarasin & Partners LLP bought a new stake in Taiwan Semiconductor Manufacturing in the 1st quarter worth about $362,773,000. Finally, Northern Trust Corp increased its holdings in Taiwan Semiconductor Manufacturing by 45.2% in the 4th quarter. Northern Trust Corp now owns 6,244,965 shares of the semiconductor company's stock worth $1,233,318,000 after buying an additional 1,944,328 shares in the last quarter. 16.51% of the stock is currently owned by institutional investors.

Taiwan Semiconductor Manufacturing Trading Down 2.6%

Taiwan Semiconductor Manufacturing stock opened at $235.28 on Friday. The business has a 50-day simple moving average of $222.20 and a two-hundred day simple moving average of $195.99. The company has a market cap of $1.22 trillion, a P/E ratio of 26.83, a P/E/G ratio of 1.13 and a beta of 1.19. Taiwan Semiconductor Manufacturing Company Ltd. has a 52-week low of $133.57 and a 52-week high of $248.28. 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 (NYSE:TSM - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.34. The business had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The business's quarterly revenue was up 44.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.48 EPS. Analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed 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. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is presently 28.16%.

Wall Street Analysts Forecast Growth

TSM has been the subject of several research analyst reports. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Needham & Company LLC restated a "buy" rating and set a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. 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 note on Tuesday, June 3rd. Finally, Susquehanna boosted 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $258.33.

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.

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