Baldwin Investment Management LLC Raises Stock Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Baldwin Investment Management LLC increased its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 8.7%, resulting in a holding valued at $2.79 million.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for TSM, with an average price target of $258.33.
• Taiwan Semiconductor reported $2.47 EPS for the last quarter, surpassing estimates, with a year-over-year revenue increase of 44.4%.

Baldwin Investment Management LLC increased 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 filing with the Securities and Exchange Commission. The institutional investor owned 16,828 shares of the semiconductor company's stock after acquiring an additional 1,350 shares during the period. Baldwin Investment Management LLC's holdings in Taiwan Semiconductor Manufacturing were worth $2,793,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Werba Rubin Papier Wealth Management lifted its stake in Taiwan Semiconductor Manufacturing by 6.7% in the 1st quarter. Werba Rubin Papier Wealth Management now owns 1,588 shares of the semiconductor company's stock valued at $264,000 after purchasing an additional 100 shares during the last quarter. University of Texas Texas AM Investment Management Co. raised its stake in shares of Taiwan Semiconductor Manufacturing by 63.7% during the first quarter. University of Texas Texas AM Investment Management Co. now owns 29,070 shares of the semiconductor company's stock valued at $4,826,000 after acquiring an additional 11,308 shares during the last quarter. Ridgewood Investments LLC raised its stake in shares of Taiwan Semiconductor Manufacturing by 12.6% during the first quarter. Ridgewood Investments LLC now owns 10,237 shares of the semiconductor company's stock valued at $1,699,000 after acquiring an additional 1,145 shares during the last quarter. Orca Investment Management LLC bought a new position in Taiwan Semiconductor Manufacturing during the first quarter worth $1,282,000. Finally, Ballast Advisors LLC raised its stake in Taiwan Semiconductor Manufacturing by 13.7% during the first quarter. Ballast Advisors LLC now owns 17,249 shares of the semiconductor company's stock worth $2,863,000 after buying an additional 2,073 shares during the last quarter. Institutional investors and hedge funds own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Price Performance

NYSE:TSM traded down $1.90 during midday trading on Thursday, hitting $241.01. The company had a trading volume of 8,276,364 shares, compared to its average volume of 15,442,892. Taiwan Semiconductor Manufacturing Company Ltd. has a 52-week low of $133.57 and a 52-week high of $248.28. The stock's fifty day moving average price is $220.43 and its 200-day moving average price is $195.55. The company has a market capitalization of $1.25 trillion, a PE ratio of 27.43, a P/E/G ratio of 1.16 and a beta of 1.29. 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 issued its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 EPS 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 the consensus estimate of $28.50 billion. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 32.87%. The company's quarterly revenue was up 44.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 earnings per share. As a group, research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 yield of 1.08%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is currently 29.65%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TSM shares. Susquehanna lifted their price objective on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the company a "positive" rating in a report on Monday, July 14th. Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Finally, Barclays reiterated an "overweight" rating and issued a $240.00 target price (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing presently has a consensus rating of "Moderate Buy" and a consensus 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.