Carnegie Investment Counsel Raises Stock Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Carnegie Investment Counsel increased its holdings in Taiwan Semiconductor Manufacturing Company by 58.7% in Q1, owning 23,756 shares worth $3.94 million.
• The company's quarterly earnings surpassed expectations, reporting $2.47 per share against a consensus estimate of $2.13, while revenue increased by 44.4% year-over-year.
• Taiwan Semiconductor Manufacturing's dividend payout ratio is currently at 28.16%, with an upcoming quarterly dividend of $0.6499 per share set to be paid on October 9th.

Carnegie Investment Counsel lifted its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 58.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,756 shares of the semiconductor company's stock after buying an additional 8,790 shares during the quarter. Carnegie Investment Counsel's holdings in Taiwan Semiconductor Manufacturing were worth $3,943,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. City Holding Co. increased its position 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 worth $28,000 after purchasing an additional 119 shares in the last quarter. Accredited Wealth Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth approximately $31,000. Signature Resources Capital Management LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 138.8% during the first quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 111 shares in the last quarter. Graybill Wealth Management LTD. purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter worth approximately $33,000. Finally, Glass Jacobson Investment Advisors llc increased its position in shares of Taiwan Semiconductor Manufacturing by 289.4% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 136 shares in the last quarter. 16.51% of the stock is owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Trading Down 1.5%

Shares of Taiwan Semiconductor Manufacturing stock traded down $3.70 during trading hours on Monday, hitting $241.90. The company's stock had a trading volume of 6,163,082 shares, compared to its average volume of 15,559,650. Taiwan Semiconductor Manufacturing Company Ltd. has a twelve month low of $133.57 and a twelve month high of $248.28. The firm has a fifty day moving average of $217.47 and a 200-day moving average of $194.66. The stock has a market cap of $1.25 trillion, a price-to-earnings ratio of 27.61, a P/E/G ratio of 1.18 and a beta of 1.29. 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 (NYSE:TSM - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a return on equity of 34.53% and a net margin of 42.91%. The business had revenue of $30.07 billion for the quarter, compared to analyst estimates of $28.50 billion. During the same quarter in the prior year, the company posted $1.48 EPS. The company's quarterly revenue was up 44.4% on a year-over-year basis. Research analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.6499 per share. This represents a $2.60 annualized dividend and a yield of 1.07%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is 29.65%.

Wall Street Analyst Weigh In

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