Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Stake Cut by Eagle Global Advisors LLC

Key Points

• Eagle Global Advisors LLC has reduced its stake in Taiwan Semiconductor Manufacturing Company (TSMC) by 2.7%, selling 1,405 shares, bringing their total owned to 50,631 shares valued at approximately $8.4 million.
• Several analysts have issued a buy rating on TSM shares, with price targets ranging from $240 to $270, indicating positive growth forecasts for the company.
• TSMC reported strong earnings for the last quarter, with EPS of $2.47, exceeding expectations, and revenue increasing by 44.4% year-over-year to $30.07 billion.

Eagle Global Advisors LLC trimmed its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,631 shares of the semiconductor company's stock after selling 1,405 shares during the period. Eagle Global Advisors LLC's holdings in Taiwan Semiconductor Manufacturing were worth $8,405,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSM. City Holding Co. lifted its holdings in Taiwan Semiconductor Manufacturing by 238.0% in the 1st quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 119 shares in the last quarter. Accredited Wealth Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $31,000. Signature Resources Capital Management LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 138.8% during the 1st quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 111 shares during the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 1st quarter valued at about $33,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 1st quarter valued at about $33,000. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Taiwan Semiconductor Manufacturing Stock Down 1.1%

NYSE TSM traded down $2.78 on Wednesday, reaching $241.51. The company had a trading volume of 7,961,236 shares, compared to its average volume of 15,181,963. The firm has a market capitalization of $1.25 trillion, a PE ratio of 27.54, a P/E/G ratio of 1.17 and a beta of 1.19. Taiwan Semiconductor Manufacturing Company Ltd. has a 1 year low of $134.25 and a 1 year high of $248.28. The firm has a 50-day moving average of $228.27 and a 200-day moving average of $197.00. 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 (NYSE:TSM - Get Free Report) last released its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.13 by $0.34. The company had revenue of $30.07 billion during the quarter, compared to analysts' expectations of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The business's revenue was up 44.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.48 EPS. On average, 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 announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.6499 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is 29.65%.

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.