Cetera Investment Advisers Boosts Holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Cetera Investment Advisers increased its stake in Taiwan Semiconductor Manufacturing Company Ltd. by 4.3%, purchasing an additional 21,458 shares to reach a total of 516,186 shares valued at approximately $85.7 million.
• Despite a recent quarterly dividend cut, Taiwan Semiconductor Manufacturing reported earnings of $2.47 per share, exceeding analyst expectations and showing a year-over-year revenue increase of 44.4%.
• Analysts have updated their price targets for the stock, with a majority issuing buy ratings, and an average price target set at $258.33.

Cetera Investment Advisers increased its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 516,186 shares of the semiconductor company's stock after acquiring an additional 21,458 shares during the period. Cetera Investment Advisers' holdings in Taiwan Semiconductor Manufacturing were worth $85,687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TSM. Price T Rowe Associates Inc. MD increased its stake in Taiwan Semiconductor Manufacturing by 67.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock valued at $2,047,065,000 after acquiring an additional 4,158,772 shares during the period. FMR LLC increased its stake in Taiwan Semiconductor Manufacturing by 4.6% in the fourth quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock valued at $11,562,498,000 after purchasing an additional 2,572,488 shares in the last quarter. Jennison Associates LLC increased its stake 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 bought a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter worth $362,773,000. Finally, Franklin Resources Inc. increased its position in shares of Taiwan Semiconductor Manufacturing by 32.3% during the fourth quarter. Franklin Resources Inc. now owns 8,498,063 shares of the semiconductor company's stock worth $1,678,283,000 after acquiring an additional 2,074,329 shares in the last quarter. 16.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Taiwan Semiconductor Manufacturing Trading Up 1.6%

Shares of NYSE:TSM traded up $3.95 during trading on Friday, reaching $245.55. 11,583,376 shares of the company traded hands, compared to its average volume of 11,641,382. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 1.18 and a beta of 1.29. Taiwan Semiconductor Manufacturing Company Ltd. has a 52-week low of $133.57 and a 52-week high of $248.28. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22. The business's fifty day moving average is $217.47 and its 200-day moving average is $194.75.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a return on equity of 34.53% 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 last year, the firm posted $1.48 earnings per share. The company's revenue for the quarter was up 44.4% on a year-over-year basis. As a group, analysts forecast 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. 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 annualized dividend and a yield of 1.06%. Taiwan Semiconductor Manufacturing's payout ratio is 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.