EFG Asset Management Americas Corp. Cuts Stock Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• EFG Asset Management Americas Corp. has reduced its holdings in Taiwan Semiconductor Manufacturing Company by 7.5%, now owning 16,031 shares worth approximately $2.66 million.
• Several hedge funds have recently increased their stakes in TSM, with Price T Rowe Associates increasing its position by 67%, showcasing strong institutional interest.
• TSMC reported a quarterly EPS of $2.47, exceeding analyst expectations, with revenues of $30.07 billion representing a year-over-year growth of 44.4%.

EFG Asset Management Americas Corp. lowered its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 7.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,031 shares of the semiconductor company's stock after selling 1,300 shares during the period. EFG Asset Management Americas Corp.'s holdings in Taiwan Semiconductor Manufacturing were worth $2,661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. City Holding Co. grew its stake in Taiwan Semiconductor Manufacturing by 238.0% during the 1st quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock worth $28,000 after buying an additional 119 shares during the last quarter. Accredited Wealth Management LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter valued at approximately $31,000. Signature Resources Capital Management LLC boosted its stake in Taiwan Semiconductor Manufacturing by 138.8% in the 1st quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 111 shares in the last quarter. Graybill Wealth Management LTD. purchased a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter worth approximately $33,000. Finally, Glass Jacobson Investment Advisors llc raised its holdings in shares of Taiwan Semiconductor Manufacturing by 289.4% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company's stock worth $36,000 after buying an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Performance

TSM stock traded down $6.92 during trading on Friday, hitting $234.70. 5,132,113 shares of the company traded hands, compared to its average volume of 15,400,362. Taiwan Semiconductor Manufacturing Company Ltd. has a 1 year low of $133.57 and a 1 year high of $248.28. The company has a market cap of $1.22 trillion, a PE ratio of 26.79, a P/E/G ratio of 1.17 and a beta of 1.29. The stock's 50-day simple moving average is $221.34 and its 200 day simple moving average is $195.83. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.37 and a quick ratio of 2.18.

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

Taiwan Semiconductor Manufacturing Cuts Dividend

The company 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 of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is presently 28.16%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and issued a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. Barclays reiterated an "overweight" rating and issued a $240.00 target price (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.