Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Position Trimmed by Central Asset Investments & Management Holdings HK Ltd

Key Points

• Central Asset Investments & Management Holdings significantly reduced its stake in Taiwan Semiconductor Manufacturing Company (TSM) by 82.4%, holding only 8,413 shares worth approximately $1.40 million.
• Multiple hedge funds, including Rathbones Group PLC and Westpac Banking Corp, increased their stakes in TSM, reflecting ongoing interest from institutional investors.
• TSM reported a strong quarterly earnings result with earnings per share of $2.47, exceeding analysts' estimates and showcasing a 44.4% year-over-year increase in revenue.

Central Asset Investments & Management Holdings HK Ltd lowered its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 82.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,413 shares of the semiconductor company's stock after selling 39,500 shares during the quarter. Taiwan Semiconductor Manufacturing accounts for approximately 2.4% of Central Asset Investments & Management Holdings HK Ltd's investment portfolio, making the stock its 10th biggest holding. Central Asset Investments & Management Holdings HK Ltd's holdings in Taiwan Semiconductor Manufacturing were worth $1,397,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors grew its position in shares of Taiwan Semiconductor Manufacturing by 0.8% in the fourth quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company's stock valued at $7,031,632,000 after purchasing an additional 294,316 shares in the last quarter. Capital International Investors raised its stake in Taiwan Semiconductor Manufacturing by 8.2% in the fourth quarter. Capital International Investors now owns 22,210,222 shares of the semiconductor company's stock valued at $4,391,957,000 after purchasing an additional 1,683,256 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Taiwan Semiconductor Manufacturing by 55.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company's stock valued at $2,872,814,000 after buying an additional 6,180,445 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Taiwan Semiconductor Manufacturing by 67.0% during the fourth 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 purchasing an additional 4,158,772 shares during the last quarter. Finally, WCM Investment Management LLC lifted its position in Taiwan Semiconductor Manufacturing by 0.6% in the 1st quarter. WCM Investment Management LLC now owns 9,734,044 shares of the semiconductor company's stock worth $1,608,551,000 after buying an additional 59,079 shares during the last quarter. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Up 0.8%

Taiwan Semiconductor Manufacturing stock traded up $1.90 during trading hours on Tuesday, hitting $243.99. The stock had a trading volume of 7,294,659 shares, compared to its average volume of 12,346,192. Taiwan Semiconductor Manufacturing Company Ltd. has a 12-month low of $134.25 and a 12-month high of $248.28. The stock has a market capitalization of $1.27 trillion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The stock's 50-day moving average price is $228.27 and its 200-day moving average price is $197.00. The company has a quick ratio of 2.15, a current ratio of 2.37 and a debt-to-equity ratio of 0.18.

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

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be issued a $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.1%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 28.16%.

Analysts Set New Price Targets

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