Financial Gravity Asset Management Inc. Makes New Investment in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Financial Gravity Asset Management Inc. purchased a new position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 14,389 shares of the semiconductor company's stock, valued at approximately $2,389,000.

A number of other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 67.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock worth $2,047,065,000 after acquiring an additional 4,158,772 shares during the last quarter. FMR LLC increased its position in Taiwan Semiconductor Manufacturing by 4.6% during the 4th quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock worth $11,562,498,000 after purchasing an additional 2,572,488 shares in the last quarter. Sarasin & Partners LLP bought a new position in Taiwan Semiconductor Manufacturing in the 1st quarter valued at approximately $362,773,000. Franklin Resources Inc. lifted its stake in Taiwan Semiconductor Manufacturing by 32.3% in the 4th quarter. Franklin Resources Inc. now owns 8,498,063 shares of the semiconductor company's stock valued at $1,678,283,000 after purchasing an additional 2,074,329 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Taiwan Semiconductor Manufacturing by 45.2% in the 4th quarter. Northern Trust Corp now owns 6,244,965 shares of the semiconductor company's stock valued at $1,233,318,000 after purchasing an additional 1,944,328 shares during the last quarter. Institutional investors and hedge funds own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Trading Up 0.3%

NYSE:TSM traded up $0.62 during trading hours on Friday, hitting $230.38. 8,805,986 shares of the company were exchanged, compared to its average volume of 15,271,379. The stock has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 1.25 and a beta of 1.29. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $133.57 and a one year high of $237.58. The company has a fifty day simple moving average of $206.45 and a 200 day simple moving average of $192.31. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The company had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. 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 company also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a yield of 1.13%. Taiwan Semiconductor Manufacturing's payout ratio is 31.75%.

Wall Street Analyst Weigh In

TSM has been the subject of several research analyst reports. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Susquehanna upped their target price on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a "positive" rating in a report on Tuesday, June 17th. 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 note on Tuesday, June 3rd. Finally, Needham & Company LLC upped their price objective on Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing currently has an average rating of "Moderate Buy" and an average target price of $233.75.

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.