Cary Street Partners Financial LLC Has $1.92 Million Stock Holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Cary Street Partners Financial LLC increased its stake in Taiwan Semiconductor Manufacturing Company by 52.8%, holding shares valued at approximately $1.92 million as of the last reporting period.
• The semiconductor company reported earnings of $2.47 per share for the last quarter, significantly exceeding analyst expectations of $2.13.
• Taiwan Semiconductor Manufacturing announced a quarterly dividend of $0.6499 per share, resulting in a 1.1% dividend yield for investors.

Cary Street Partners Financial LLC lifted its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 52.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,560 shares of the semiconductor company's stock after purchasing an additional 3,997 shares during the quarter. Cary Street Partners Financial LLC's holdings in Taiwan Semiconductor Manufacturing were worth $1,919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Heartland Consultants Inc. grew its stake in Taiwan Semiconductor Manufacturing by 4.2% in the fourth quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company's stock valued at $244,000 after acquiring an additional 50 shares during the period. Formidable Asset Management LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company's stock valued at $317,000 after purchasing an additional 50 shares during the period. Connecticut Wealth Management LLC increased its stake in Taiwan Semiconductor Manufacturing by 0.7% during the 4th quarter. Connecticut Wealth Management LLC now owns 7,416 shares of the semiconductor company's stock worth $1,465,000 after purchasing an additional 55 shares in the last quarter. WealthCollab LLC increased its stake in Taiwan Semiconductor Manufacturing by 6.7% during the 4th quarter. WealthCollab LLC now owns 891 shares of the semiconductor company's stock worth $176,000 after purchasing an additional 56 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its holdings in Taiwan Semiconductor Manufacturing by 1.1% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 5,455 shares of the semiconductor company's stock worth $1,077,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Trading Down 0.5%

Taiwan Semiconductor Manufacturing stock opened at $231.26 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.37 and a quick ratio of 2.15. The firm has a 50-day moving average of $224.53 and a 200-day moving average of $196.54. The company has a market cap of $1.20 trillion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 1.12 and a beta of 1.19. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $134.25 and a one year high of $248.28.

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. On average, equities analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.6499 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 annualized dividend and a dividend yield of 1.1%. Taiwan Semiconductor Manufacturing's payout ratio is currently 29.65%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays reiterated an "overweight" rating and issued a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. Finally, Susquehanna increased 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. One equities 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, Taiwan Semiconductor Manufacturing currently 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.

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