Cary Street Partners Investment Advisory LLC Has $685,000 Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Cary Street Partners Investment Advisory LLC increased its position in Taiwan Semiconductor Manufacturing Company Ltd. by 157.6% in the 1st quarter, owning 4,127 shares valued at $685,000.
• Several institutional investors have also made significant increases in their holdings, highlighting strong interest in Taiwan Semiconductor, with firms like Price T Rowe Associates boosting their positions by 67.0%.
• Taiwan Semiconductor Manufacturing reported an EPS of $2.47, outperforming analyst expectations of $2.13, with revenues of $30.07 billion for the quarter—a 44.4% increase year-over-year.

Cary Street Partners Investment Advisory LLC boosted its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 157.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,127 shares of the semiconductor company's stock after purchasing an additional 2,525 shares during the quarter. Cary Street Partners Investment Advisory LLC's holdings in Taiwan Semiconductor Manufacturing were worth $685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TSM. Atria Wealth Solutions Inc. increased its holdings in shares of Taiwan Semiconductor Manufacturing by 26.0% in the first quarter. Atria Wealth Solutions Inc. now owns 86,841 shares of the semiconductor company's stock worth $14,444,000 after acquiring an additional 17,939 shares in the last quarter. Costello Asset Management INC bought a new stake in shares of Taiwan Semiconductor Manufacturing in the first quarter worth about $87,000. Horizon Family Wealth Inc. increased its holdings in shares of Taiwan Semiconductor Manufacturing by 8.7% in the first quarter. Horizon Family Wealth Inc. now owns 3,266 shares of the semiconductor company's stock worth $542,000 after acquiring an additional 262 shares in the last quarter. Cary Street Partners Financial LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing by 52.8% in the first quarter. Cary Street Partners Financial LLC now owns 11,560 shares of the semiconductor company's stock worth $1,919,000 after acquiring an additional 3,997 shares in the last quarter. Finally, Advyzon Investment Management LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing by 126.2% in the first quarter. Advyzon Investment Management LLC now owns 2,949 shares of the semiconductor company's stock worth $490,000 after acquiring an additional 1,645 shares in the last quarter. Institutional investors own 16.51% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TSM. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Needham & Company LLC restated a "buy" rating and issued a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Barclays reiterated an "overweight" rating and set a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.33.

Taiwan Semiconductor Manufacturing Stock Down 0.7%

Shares of NYSE:TSM traded down $1.71 during mid-day trading on Friday, reaching $240.91. 8,149,109 shares of the stock were exchanged, compared to its average volume of 15,310,830. The company has a quick ratio of 2.15, a current ratio of 2.37 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.25 trillion, a P/E ratio of 27.46, 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. The stock's 50 day simple moving average is $225.43 and its 200-day simple moving average is $196.75.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.34. The business had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. Taiwan Semiconductor Manufacturing's quarterly revenue was up 44.4% on a year-over-year basis. During the same period last year, the company earned $1.48 earnings per share. As a group, 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be given 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 presently 28.16%.

Taiwan Semiconductor Manufacturing Company Profile

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.