Brandywine Global Investment Management LLC Sells 3,480 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Taiwan Semiconductor Manufacturing Company (NYSE: TSM) by 4.8%, selling 3,480 shares and retaining a total of 68,432 shares worth approximately $11.36 million.
• In the first quarter, several other institutional investors increased their holdings in TSM significantly, with City Holding Co. enhancing its position by 238%, and others making new stakes worth up to $33,000.
• Taiwan Semiconductor Manufacturing recently reported earnings of $2.47 per share, exceeding analysts' expectations, with revenue of $30.07 billion for the quarter, reflecting a 44.4% year-over-year increase.

Brandywine Global Investment Management LLC cut its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 4.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,432 shares of the semiconductor company's stock after selling 3,480 shares during the quarter. Brandywine Global Investment Management LLC's holdings in Taiwan Semiconductor Manufacturing were worth $11,360,000 as of its most recent SEC filing.

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

Taiwan Semiconductor Manufacturing Trading Down 0.8%

Shares of NYSE:TSM opened at $238.97 on Friday. The stock has a market capitalization of $1.24 trillion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.16 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.15 and a current ratio of 2.37. The stock's 50-day simple moving average is $230.48 and its two-hundred day simple moving average is $197.87. Taiwan Semiconductor Manufacturing Company Ltd. has a 52-week low of $134.25 and a 52-week high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.34. The business had revenue of $30.07 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 44.4% on a year-over-year basis. During the same period last year, the firm posted $1.48 earnings per share. Analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Analysts Set New Price Targets

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