Coronation Fund Managers Ltd. lessened its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 82.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,234 shares of the semiconductor company's stock after selling 20,515 shares during the period. Coronation Fund Managers Ltd.'s holdings in Taiwan Semiconductor Manufacturing were worth $703,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. First Heartland Consultants Inc. lifted its stake in shares of Taiwan Semiconductor Manufacturing by 4.2% in the 4th quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company's stock valued at $244,000 after purchasing an additional 50 shares during the period. Formidable Asset Management LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company's stock valued at $317,000 after purchasing an additional 50 shares during the period. Connecticut Wealth Management LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 0.7% in the 4th quarter. Connecticut Wealth Management LLC now owns 7,416 shares of the semiconductor company's stock valued at $1,465,000 after purchasing an additional 55 shares during the period. WealthCollab LLC raised its stake in Taiwan Semiconductor Manufacturing by 6.7% during the 4th quarter. WealthCollab LLC now owns 891 shares of the semiconductor company's stock worth $176,000 after buying an additional 56 shares during the period. Finally, WealthPlan Investment Management LLC raised its stake in Taiwan Semiconductor Manufacturing by 3.2% during the 1st quarter. WealthPlan Investment Management LLC now owns 1,847 shares of the semiconductor company's stock worth $307,000 after buying an additional 57 shares during the period. Institutional investors own 16.51% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on TSM shares. Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Barclays reaffirmed an "overweight" rating and set a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Susquehanna upped 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. One equities 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.33.
Read Our Latest Research Report on Taiwan Semiconductor Manufacturing
Taiwan Semiconductor Manufacturing Stock Down 0.3%
TSM traded down $0.71 during midday trading on Friday, reaching $241.91. 10,540,805 shares of the company were exchanged, compared to its average volume of 12,466,225. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.15 and a current ratio of 2.37. The company's fifty day moving average price is $226.40 and its 200 day moving average price is $196.53. The company has a market cap of $1.25 trillion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.17 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.
Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.34. The firm had revenue of $30.07 billion during the quarter, compared to analyst estimates of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The company's revenue for the quarter was up 44.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 EPS. As a group, analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS 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 issued 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 payout ratio is currently 28.16%.
About Taiwan Semiconductor Manufacturing
(
Free Report)
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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