Caitong International Asset Management Co. Ltd Has $910,000 Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Caitong International Asset Management Co. Ltd. has increased its stake in Taiwan Semiconductor Manufacturing Company by 494.0% during the first quarter, owning 5,483 shares valued at approximately $910,000.
• Several institutional investors, including Goldman Sachs and Price T Rowe Associates, have also significantly increased their holdings in Taiwan Semiconductor, reflecting strong investor confidence.
• Taiwan Semiconductor Manufacturing Company reported a strong quarterly performance with earnings per share (EPS) of $2.47, surpassing estimates by $0.34, and a revenue increase of 44.4% year-over-year.

Caitong International Asset Management Co. Ltd raised its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 494.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,483 shares of the semiconductor company's stock after buying an additional 4,560 shares during the quarter. Taiwan Semiconductor Manufacturing comprises 0.7% of Caitong International Asset Management Co. Ltd's portfolio, making the stock its 21st biggest position. Caitong International Asset Management Co. Ltd's holdings in Taiwan Semiconductor Manufacturing were worth $910,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Accredited Wealth Management LLC bought a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $31,000. City Holding Co. lifted its stake in Taiwan Semiconductor Manufacturing by 238.0% in the 1st 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. Signature Resources Capital Management LLC lifted its stake 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 valued at $32,000 after acquiring an additional 111 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in Taiwan Semiconductor Manufacturing in the 1st quarter valued at approximately $33,000. Finally, Vision Financial Markets LLC bought a new stake in Taiwan Semiconductor Manufacturing in the 1st quarter valued at approximately $33,000. Institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Down 1.1%

Shares of NYSE:TSM traded down $2.78 during trading on Wednesday, hitting $241.51. 7,961,236 shares of the company were exchanged, compared to its average volume of 11,997,785. The stock has a market cap of $1.25 trillion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 1.18 and a beta of 1.19. Taiwan Semiconductor Manufacturing Company Ltd. has a fifty-two week low of $134.25 and a fifty-two week high of $248.28. The firm has a fifty day moving average price of $229.05 and a two-hundred day moving average price of $197.31. The company has a current ratio of 2.37, a quick ratio of 2.15 and a debt-to-equity ratio of 0.18.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.34. The firm had revenue of $30.07 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.48 EPS. As a group, research 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.6499 per share. 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 1.1%. Taiwan Semiconductor Manufacturing's payout ratio is presently 28.16%.

Analysts Set New Price Targets

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