Cary Street Partners Investment Advisory LLC Increases 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 lifted its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 157.6% in the 1st quarter, according to the company in its most recent 13F filing 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 period. Cary Street Partners Investment Advisory LLC's holdings in Taiwan Semiconductor Manufacturing were worth $685,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Taiwan Semiconductor Manufacturing by 67.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock worth $2,047,065,000 after acquiring an additional 4,158,772 shares in the last quarter. Jennison Associates LLC boosted its holdings in Taiwan Semiconductor Manufacturing by 36.8% in the first quarter. Jennison Associates LLC now owns 9,509,032 shares of the semiconductor company's stock valued at $1,578,499,000 after purchasing an additional 2,559,512 shares in the last quarter. Sarasin & Partners LLP acquired a new stake in Taiwan Semiconductor Manufacturing during the first quarter worth approximately $362,773,000. Northern Trust Corp lifted its position in shares of Taiwan Semiconductor Manufacturing by 45.2% during the 4th quarter. Northern Trust Corp now owns 6,244,965 shares of the semiconductor company's stock worth $1,233,318,000 after buying an additional 1,944,328 shares during the last quarter. Finally, Capital International Investors boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 8.2% in the 4th quarter. Capital International Investors now owns 22,210,222 shares of the semiconductor company's stock valued at $4,391,957,000 after buying an additional 1,683,256 shares in the last quarter. 16.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TSM shares. Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report 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 report on Thursday, July 17th. Barclays reissued 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 raised their price target on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research note 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $258.33.

Taiwan Semiconductor Manufacturing Stock Up 1.5%

TSM stock opened at $238.82 on Tuesday. The company has a market cap of $1.24 trillion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 1.13 and a beta of 1.19. The company has a fifty day moving average price of $223.13 and a 200 day moving average price of $196.04. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.37 and a quick ratio of 2.15. Taiwan Semiconductor Manufacturing Company Ltd. has a 12 month low of $133.57 and a 12 month high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 EPS 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 analysts' expectations of $28.50 billion. During the same period in the prior year, the company earned $1.48 earnings per share. The business's revenue was up 44.4% compared to the same quarter last year. Sell-side analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. This represents a $2.60 dividend on an annualized basis and a 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 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.

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