Callan Family Office LLC Decreases Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Callan Family Office LLC has reduced its stake in Taiwan Semiconductor Manufacturing by 2.9%, selling 1,243 shares and now holds a total of 41,624 shares worth approximately $6.91 million.
• Other major investors, such as Goldman Sachs and Price T Rowe Associates, have significantly increased their holdings in Taiwan Semiconductor, with Goldman Sachs boosting its position by 55.6% in the first quarter.
• Taiwan Semiconductor Manufacturing's quarterly earnings exceeded expectations, reporting an EPS of $2.47, surpassing the consensus estimate of $2.13, along with a 44.4% year-over-year revenue increase.

Callan Family Office LLC lowered its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,624 shares of the semiconductor company's stock after selling 1,243 shares during the quarter. Callan Family Office LLC's holdings in Taiwan Semiconductor Manufacturing were worth $6,910,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. City Holding Co. increased its position in Taiwan Semiconductor Manufacturing by 238.0% in the first quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 119 shares during the period. Accredited Wealth Management LLC acquired a new position in Taiwan Semiconductor Manufacturing in the fourth quarter valued at about $31,000. Signature Resources Capital Management LLC grew its stake in Taiwan Semiconductor Manufacturing by 138.8% in the first 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 during the period. Graybill Wealth Management LTD. acquired a new position in Taiwan Semiconductor Manufacturing in the first quarter valued at about $33,000. Finally, Vision Financial Markets LLC acquired a new position in Taiwan Semiconductor Manufacturing in the first quarter valued at about $33,000. Institutional investors and hedge funds own 16.51% of the company's stock.

Analyst Upgrades and Downgrades

TSM has been the topic of several recent research reports. Barclays reissued an "overweight" rating and issued a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Susquehanna boosted their price objective on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research note on Monday, July 14th. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Finally, Needham & Company LLC restated a "buy" rating and set a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. One research 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, the company has a consensus rating of "Moderate Buy" and an average price target of $258.33.

Taiwan Semiconductor Manufacturing Trading Up 0.8%

Shares of NYSE:TSM traded up $1.90 during midday trading on Tuesday, hitting $243.99. 7,294,659 shares of the stock were exchanged, compared to its average volume of 12,346,192. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 1.17 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 business's 50-day moving average price is $228.27 and its 200 day moving average price is $197.00. Taiwan Semiconductor Manufacturing Company Ltd. has a 12 month low of $134.25 and a 12 month high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 32.87%. The business had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. During the same quarter in the prior year, the firm posted $1.48 EPS. The company's revenue for the quarter was up 44.4% compared to the same quarter last year. Analysts predict 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. Shareholders 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 dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is 28.16%.

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.