Fayez Sarofim & Co Acquires 69,922 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Fayez Sarofim & Co increased its ownership of Taiwan Semiconductor Manufacturing Company by 3.6%, acquiring an additional 69,922 shares, resulting in a total of 2,011,742 shares valued at $339.27 million.
• The company reported strong quarterly earnings with an earnings per share of $2.47, surpassing the consensus estimate of $2.13, and a revenue of $30.07 billion, exceeding expectations.
• TSMC announced a quarterly dividend of $0.6499 per share with a yield of 1.1%, and has a dividend payout ratio of 29.65%.

Fayez Sarofim & Co raised its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,011,742 shares of the semiconductor company's stock after purchasing an additional 69,922 shares during the period. Fayez Sarofim & Co's holdings in Taiwan Semiconductor Manufacturing were worth $339,273,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 20.9% during the 4th quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company's stock worth $2,159,000 after acquiring an additional 1,892 shares during the period. Waterloo Capital L.P. bought a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter valued at approximately $203,000. Shelton Capital Management boosted its position in shares of Taiwan Semiconductor Manufacturing by 1.8% during the fourth quarter. Shelton Capital Management now owns 13,177 shares of the semiconductor company's stock valued at $2,602,000 after purchasing an additional 236 shares in the last quarter. CenterBook Partners LP grew its stake in Taiwan Semiconductor Manufacturing by 16.0% in the fourth quarter. CenterBook Partners LP now owns 121,824 shares of the semiconductor company's stock worth $24,059,000 after purchasing an additional 16,792 shares during the period. Finally, Bessemer Group Inc. raised its holdings in Taiwan Semiconductor Manufacturing by 568.1% in the fourth quarter. Bessemer Group Inc. now owns 430,936 shares of the semiconductor company's stock worth $85,105,000 after purchasing an additional 366,437 shares in the last quarter. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM stock opened at $231.26 on Thursday. The company has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 1.12 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.15 and a current ratio of 2.37. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $134.25 and a one year high of $248.28. The company's 50-day moving average is $224.53 and its 200 day moving average is $196.54.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly 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. The company had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 32.87%. The firm's quarterly revenue was up 44.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share. Sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be issued a $0.6499 dividend. This represents a $2.60 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 29.65%.

Analysts Set New Price Targets

TSM has been the topic of a number of research reports. Needham & Company LLC restated a "buy" rating and set a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Susquehanna lifted their target price 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. Finally, Barclays restated an "overweight" rating and issued a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $258.33.

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.

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