Canoe Financial LP Has $270.72 Million Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Canoe Financial LP increased its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,630,812 shares of the semiconductor company's stock after buying an additional 51,738 shares during the quarter. Taiwan Semiconductor Manufacturing accounts for 4.3% of Canoe Financial LP's portfolio, making the stock its 2nd largest position. Canoe Financial LP's holdings in Taiwan Semiconductor Manufacturing were worth $270,715,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Tallon Kerry Patrick bought a new stake in Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $228,000. LaFleur & Godfrey LLC bought a new stake in Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $221,000. Brighton Jones LLC lifted its position in Taiwan Semiconductor Manufacturing by 20.9% in the fourth quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company's stock valued at $2,159,000 after purchasing an additional 1,892 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $91,830,000. Finally, Strategic Financial Concepts LLC bought a new stake in Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $354,000. Institutional investors own 16.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TSM shares. Barclays reiterated an "overweight" rating and issued a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Susquehanna boosted their price objective on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a "positive" rating in a research report on Tuesday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, April 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $222.50.

Taiwan Semiconductor Manufacturing Price Performance

TSM opened at $209.71 on Friday. 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 52-week low of $133.57 and a 52-week high of $226.40. The stock has a market capitalization of $1.09 trillion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 1.11 and a beta of 1.27. The stock's 50 day moving average price is $186.25 and its 200-day moving average price is $189.58.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $25.82 billion for the quarter, compared to analysts' expectations of $834.10 billion. On average, equities research analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a yield of 1.24%. Taiwan Semiconductor Manufacturing's payout ratio is 30.59%.

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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