Ethic Inc. Boosts Stock Holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Ethic Inc. increased its stake in Taiwan Semiconductor Manufacturing Company Ltd. by 3.1%, now holding 66,852 shares valued at approximately $11.27 million.
• Other institutional investors, including First Heartland Consultants Inc. and Formidable Asset Management LLC, also raised their positions in Taiwan Semiconductor, reflecting growing interest in the stock.
• Taiwan Semiconductor's latest earnings report showed $2.47 EPS, exceeding analysts' expectations of $2.13, with a revenue of $30.07 billion for the quarter, up 44.4% year-over-year.

Ethic Inc. raised its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 3.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 66,852 shares of the semiconductor company's stock after purchasing an additional 2,034 shares during the period. Ethic Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $11,274,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. First Heartland Consultants Inc. boosted its holdings 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 buying an additional 50 shares in the last quarter. Formidable Asset Management LLC boosted its holdings 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 buying an additional 50 shares in the last quarter. Connecticut Wealth Management LLC boosted its holdings 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 buying an additional 55 shares in the last quarter. WealthCollab LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 6.7% in the 4th quarter. WealthCollab LLC now owns 891 shares of the semiconductor company's stock valued at $176,000 after buying an additional 56 shares in the last quarter. Finally, WealthPlan Investment Management LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 3.2% in the 1st quarter. WealthPlan Investment Management LLC now owns 1,847 shares of the semiconductor company's stock valued at $307,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Performance

TSM opened at $241.18 on Friday. Taiwan Semiconductor Manufacturing Company Ltd. has a 12-month low of $134.25 and a 12-month high of $248.28. The company has a current ratio of 2.37, a quick ratio of 2.15 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.25 trillion, a PE ratio of 27.50, a P/E/G ratio of 1.16 and a beta of 1.19. The firm has a 50 day moving average of $229.81 and a two-hundred day moving average of $197.64.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $30.07 billion during the quarter, compared to analyst estimates of $28.50 billion. During the same period last year, the firm posted $1.48 EPS. Taiwan Semiconductor Manufacturing's revenue for the quarter was up 44.4% compared to the same quarter last year. On average, analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on TSM. Barclays reiterated an "overweight" rating and issued a $240.00 target price (up 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. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Finally, Susquehanna lifted 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 note on Monday, July 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $258.33.

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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