EverSource Wealth Advisors LLC Sells 1,496 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• EverSource Wealth Advisors LLC reduced its holdings in Taiwan Semiconductor Manufacturing Company by 15.8%, selling 1,496 shares during the first quarter, resulting in ownership of 7,966 shares valued at approximately $1.32 million.
• In its recent quarterly earnings, Taiwan Semiconductor Manufacturing reported an earnings per share of $2.47, exceeding estimates of $2.13, while revenue reached $30.07 billion, up 44.4% year-over-year.
• The stock is currently rated as a "Moderate Buy" by analysts, with a consensus target price of $258.33, reflecting positive growth expectations in the semiconductor sector.

EverSource Wealth Advisors LLC cut its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 15.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,966 shares of the semiconductor company's stock after selling 1,496 shares during the period. EverSource Wealth Advisors LLC's holdings in Taiwan Semiconductor Manufacturing were worth $1,322,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. City Holding Co. grew 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 worth $28,000 after acquiring an additional 119 shares during the last quarter. Accredited Wealth Management LLC bought a new position in Taiwan Semiconductor Manufacturing in the 4th quarter valued at $31,000. Signature Resources Capital Management LLC boosted its position 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 valued at $32,000 after buying an additional 111 shares during the last quarter. Graybill Wealth Management LTD. bought a new position in Taiwan Semiconductor Manufacturing in the 1st quarter valued at $33,000. Finally, Vision Financial Markets LLC bought a new position in Taiwan Semiconductor Manufacturing in the 1st quarter valued at $33,000. 16.51% of the stock is currently owned by institutional investors.

Taiwan Semiconductor Manufacturing Stock Down 0.8%

NYSE:TSM opened at $238.97 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 quick ratio of 2.15, a current ratio of 2.37 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.24 trillion, a P/E ratio of 27.25, a P/E/G ratio of 1.17 and a beta of 1.19. The stock's fifty day simple moving average is $230.48 and its 200-day simple moving average is $197.90.

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 the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The business had revenue of $30.07 billion for the quarter, compared to analyst estimates of $28.50 billion. During the same period last year, the company earned $1.48 EPS. The firm's revenue was up 44.4% on a year-over-year basis. Equities research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSM. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Barclays reiterated an "overweight" rating and issued a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Finally, Susquehanna increased their price objective on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the company a "positive" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Taiwan Semiconductor Manufacturing presently 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.

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