Essex Financial Services Inc. Sells 1,514 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Essex Financial Services Inc. decreased its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 15.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,174 shares of the semiconductor company's stock after selling 1,514 shares during the period. Essex Financial Services Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $1,357,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new stake in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $26,000. Hopwood Financial Services Inc. purchased a new position in Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $27,000. City Holding Co. lifted its position in Taiwan Semiconductor Manufacturing by 238.0% during the 1st quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 119 shares during the period. Accredited Wealth Management LLC purchased a new position in Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $31,000. Finally, Signature Resources Capital Management LLC lifted its position in 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 period. Institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of NYSE TSM opened at $228.47 on Monday. The firm has a 50 day moving average of $192.99 and a 200 day moving average of $190.28. 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 firm has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. Taiwan Semiconductor Manufacturing Company Ltd. has a 12-month low of $133.57 and a 12-month high of $228.88.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.09. The company had revenue of $25.82 billion during the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a net margin of 41.67% and a return on equity of 31.43%. On average, research analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be paid 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 1.14%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 30.59%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TSM. Barclays reissued an "overweight" rating and set a $240.00 price target (up 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. Susquehanna lifted their price target on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a "positive" rating in a research report on Tuesday, June 17th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing currently has an average rating of "Moderate Buy" and a consensus target price of $222.50.

Taiwan Semiconductor Manufacturing 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.

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