CCLA Investment Management Sells 52,352 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• CCLA Investment Management reduced its stake in Taiwan Semiconductor Manufacturing Company by 33.7%, selling 52,352 shares in the first quarter, leaving it with 102,799 shares valued at $17.06 million.
• Analysts remain optimistic, with multiple firms reiterating a "buy" rating and setting target prices ranging from $240.00 to $270.00 for TSM shares.
• Taiwan Semiconductor Manufacturing recently reported earnings of $2.47 per share, which exceeded estimates, and announced a quarterly dividend of $0.6499 per share, representing a yield of 1.1%.

CCLA Investment Management lowered its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 33.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,799 shares of the semiconductor company's stock after selling 52,352 shares during the quarter. CCLA Investment Management's holdings in Taiwan Semiconductor Manufacturing were worth $17,059,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Taiwan Semiconductor Manufacturing by 20.9% in the 4th quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company's stock valued at $2,159,000 after acquiring an additional 1,892 shares in the last quarter. Arete Wealth Advisors LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 9.0% in the 4th quarter. Arete Wealth Advisors LLC now owns 5,207 shares of the semiconductor company's stock valued at $1,030,000 after buying an additional 432 shares in the last quarter. ROI Financial Advisors LLC lifted its stake in Taiwan Semiconductor Manufacturing by 1.6% in the fourth quarter. ROI Financial Advisors LLC now owns 22,859 shares of the semiconductor company's stock valued at $4,515,000 after buying an additional 359 shares in the last quarter. KCM Investment Advisors LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 2.6% during the fourth quarter. KCM Investment Advisors LLC now owns 8,628 shares of the semiconductor company's stock worth $1,704,000 after buying an additional 222 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter worth about $160,000. 16.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TSM shares. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Susquehanna raised their target price on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a report on Monday, July 14th. Finally, Barclays reaffirmed an "overweight" rating and issued a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. One 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 has an average rating of "Moderate Buy" and an average target price of $258.33.

Taiwan Semiconductor Manufacturing Trading Down 2.6%

Shares of TSM opened at $235.28 on Friday. The business's fifty day moving average is $222.20 and its 200-day moving average is $195.99. The firm has a market cap of $1.22 trillion, a price-to-earnings ratio of 26.83, a PEG ratio of 1.13 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.18 and a current ratio of 2.37. Taiwan Semiconductor Manufacturing Company Ltd. has a 52-week low of $133.57 and a 52-week high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The firm had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. During the same quarter in the previous year, the firm earned $1.48 earnings per share. The business's quarterly revenue was up 44.4% on a year-over-year basis. Equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.6499 per share. 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 payout ratio is presently 28.16%.

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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