Forge First Asset Management Inc. Sells 3,000 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Forge First Asset Management Inc. reduced its stake in Taiwan Semiconductor Manufacturing Company Ltd. (TSM) by 3,000 shares, now holding 73,370 shares, representing about 5.2% of its total portfolio.
• Taiwan Semiconductor reported a quarterly EPS of $2.47, surpassing analysts' expectations, with revenue reaching $30.07 billion, a 44.4% increase year-over-year.
• The company has declared a quarterly dividend of $0.6499 per share, with an annualized dividend yield of 1.1% and a payout ratio of 28.16%.

Forge First Asset Management Inc. reduced its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 73,370 shares of the semiconductor company's stock after selling 3,000 shares during the quarter. Taiwan Semiconductor Manufacturing comprises about 5.2% of Forge First Asset Management Inc.'s portfolio, making the stock its 6th biggest position. Forge First Asset Management Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $12,179,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TSM. Accredited Wealth Management LLC bought a new stake in Taiwan Semiconductor Manufacturing during the fourth quarter worth $31,000. City Holding Co. grew its holdings in Taiwan Semiconductor Manufacturing by 238.0% during the first quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock worth $28,000 after buying an additional 119 shares in the last quarter. Glass Jacobson Investment Advisors llc grew its holdings in Taiwan Semiconductor Manufacturing by 289.4% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company's stock worth $36,000 after buying an additional 136 shares in the last quarter. Signature Resources Capital Management LLC grew its holdings in Taiwan Semiconductor Manufacturing by 138.8% during the first quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock worth $32,000 after buying an additional 111 shares in the last quarter. Finally, Graybill Wealth Management LTD. bought a new stake in Taiwan Semiconductor Manufacturing during the first quarter worth $33,000. 16.51% of the stock is owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Stock Down 2.6%

Shares of NYSE TSM opened at $235.28 on Friday. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $133.57 and a one year high of $248.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.37 and a quick ratio of 2.18. The business's fifty day moving average price is $222.20 and its 200-day moving average price is $196.06. The stock has a market capitalization of $1.22 trillion, a PE ratio of 26.83, a P/E/G ratio of 1.16 and a beta of 1.19.

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

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. This represents a $2.60 dividend on an annualized basis and a dividend 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%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Susquehanna upped their price target on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a report on Monday, July 14th. Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Needham & Company LLC reissued a "buy" rating and issued a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. Finally, Barclays reissued an "overweight" rating and issued a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Taiwan Semiconductor Manufacturing currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.