Bank of New York Mellon Corp Lowers Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Bank of New York Mellon Corp decreased its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 9.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,609,752 shares of the semiconductor company's stock after selling 1,772,178 shares during the period. Taiwan Semiconductor Manufacturing makes up 0.6% of Bank of New York Mellon Corp's holdings, making the stock its 24th biggest position. Bank of New York Mellon Corp owned 0.34% of Taiwan Semiconductor Manufacturing worth $2,923,219,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TSM. Heritage Wealth Advisors raised its holdings in shares of Taiwan Semiconductor Manufacturing by 20.0% during the 4th quarter. Heritage Wealth Advisors now owns 300 shares of the semiconductor company's stock valued at $59,000 after buying an additional 50 shares in the last quarter. First Heartland Consultants Inc. raised its holdings in shares of Taiwan Semiconductor Manufacturing by 4.2% during the 4th quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company's stock valued at $244,000 after buying an additional 50 shares in the last quarter. Formidable Asset Management LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company's stock valued at $317,000 after buying an additional 50 shares in the last quarter. Connecticut Wealth Management LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 0.7% during the 4th quarter. Connecticut Wealth Management LLC now owns 7,416 shares of the semiconductor company's stock valued at $1,465,000 after buying an additional 55 shares in the last quarter. Finally, WealthCollab LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 6.7% during the 4th quarter. WealthCollab LLC now owns 891 shares of the semiconductor company's stock valued at $176,000 after buying an additional 56 shares in the last quarter. Institutional investors own 16.51% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TSM. Barclays reissued an "overweight" rating and set a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Susquehanna raised their price target on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a "positive" rating in a research report on Tuesday, June 17th. Finally, Needham & Company LLC raised their price target on Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.75.

Taiwan Semiconductor Manufacturing Trading Up 0.8%

TSM traded up $1.89 on Friday, hitting $235.49. 7,779,584 shares of the company were exchanged, compared to its average volume of 15,466,264. The firm has a fifty day simple moving average of $200.39 and a two-hundred day simple moving average of $191.46. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.18 and a current ratio of 2.39. Taiwan Semiconductor Manufacturing Company Ltd. has a 12 month low of $133.57 and a 12 month high of $237.58. The stock has a market capitalization of $1.22 trillion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.22 and a beta of 1.29.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. The business had revenue of $25.82 billion for the quarter, compared to analyst estimates of $834.10 billion. Sell-side 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 firm 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 $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.10%. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 30.59%.

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.