Fiera Capital Corp Has $1.29 Billion Stock Holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Fiera Capital Corp has reduced its stake in Taiwan Semiconductor Manufacturing Company Ltd. (TSM) by 22.0%, selling 2,188,523 shares and now holding 7,754,541 shares, which represent 4.7% of its investment portfolio.
• Despite a recent decline in stock value, Taiwan Semiconductor Manufacturing reported a strong earnings performance, with a quarterly EPS of $2.47, exceeding estimates and reflecting a 44.4% year-over-year revenue increase.
• The company's recent dividend announcement will provide shareholders with a payment of $0.6499 per share, yielding an annualized return of 1.07%, while its current dividend payout ratio stands at 28.16%.

Fiera Capital Corp cut its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,754,541 shares of the semiconductor company's stock after selling 2,188,523 shares during the period. Taiwan Semiconductor Manufacturing accounts for 4.7% of Fiera Capital Corp's investment portfolio, making the stock its 2nd biggest position. Fiera Capital Corp owned approximately 0.15% of Taiwan Semiconductor Manufacturing worth $1,287,254,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale raised its position in shares of Taiwan Semiconductor Manufacturing by 0.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,339,479 shares of the semiconductor company's stock valued at $214,442,000 after buying an additional 11,693 shares in the last quarter. Pinnacle Investment Management Ltd purchased a new position in Taiwan Semiconductor Manufacturing in the 4th quarter worth $26,661,000. Sentry LLC purchased a new position in Taiwan Semiconductor Manufacturing in the 1st quarter worth $222,000. Compound Global Advisors LLC raised its position in Taiwan Semiconductor Manufacturing by 31.2% in the 1st quarter. Compound Global Advisors LLC now owns 4,796 shares of the semiconductor company's stock worth $747,000 after purchasing an additional 1,141 shares during the period. Finally, Polymer Capital Management HK LTD raised its position in Taiwan Semiconductor Manufacturing by 47.7% in the 4th quarter. Polymer Capital Management HK LTD now owns 86,493 shares of the semiconductor company's stock worth $17,082,000 after purchasing an additional 27,938 shares during the period. 16.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on TSM shares. 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 report on Monday, July 14th. 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 target price (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $258.33.

Taiwan Semiconductor Manufacturing Stock Down 2.9%

Shares of NYSE TSM traded down $7.11 during midday trading on Friday, hitting $234.51. The stock had a trading volume of 9,373,657 shares, compared to its average volume of 15,439,109. The business's 50 day moving average is $221.34 and its 200-day moving average is $195.83. The company has a market cap of $1.22 trillion, a P/E ratio of 26.72, a PEG ratio of 1.17 and a beta of 1.29. Taiwan Semiconductor Manufacturing Company Ltd. has a 52 week low of $133.57 and a 52 week high of $248.28. The company has a quick ratio of 2.18, a current ratio of 2.37 and a debt-to-equity ratio of 0.18.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its 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 net margin of 42.91% and a return on equity of 32.87%. The firm had revenue of $30.07 billion for the quarter, compared to the consensus estimate of $28.50 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. The business's revenue was up 44.4% on a year-over-year basis. As a group, analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.6499 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 28.16%.

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.