Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Shares Sold by Galvin Gaustad & Stein LLC

Key Points

• Galvin Gaustad & Stein LLC reduced its stake in Taiwan Semiconductor Manufacturing Company by 12.3%, selling 12,508 shares and now holding 89,067 shares worth approximately $14.79 million.
• Taiwan Semiconductor reported a quarterly earnings per share (EPS) of $2.47, exceeding analysts' expectations and showing a 44.4% increase in revenue compared to the previous year.
• The company's stock received positive reviews from analysts, with ratings of "buy" and an average target price of $258.33, indicating strong market confidence.

Galvin Gaustad & Stein LLC lowered its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 12.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,067 shares of the semiconductor company's stock after selling 12,508 shares during the period. Galvin Gaustad & Stein LLC's holdings in Taiwan Semiconductor Manufacturing were worth $14,785,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TSM. First Heartland Consultants Inc. raised its stake in shares of Taiwan Semiconductor Manufacturing by 4.2% in the 4th quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company's stock valued at $244,000 after acquiring an additional 50 shares during the period. Formidable Asset Management LLC increased its stake in Taiwan Semiconductor Manufacturing by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company's stock worth $317,000 after buying an additional 50 shares during the period. Connecticut Wealth Management LLC increased its stake in Taiwan Semiconductor Manufacturing by 0.7% during the 4th quarter. Connecticut Wealth Management LLC now owns 7,416 shares of the semiconductor company's stock worth $1,465,000 after buying an additional 55 shares during the period. WealthCollab LLC increased its stake in Taiwan Semiconductor Manufacturing by 6.7% during the 4th quarter. WealthCollab LLC now owns 891 shares of the semiconductor company's stock worth $176,000 after buying an additional 56 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in Taiwan Semiconductor Manufacturing by 1.1% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 5,455 shares of the semiconductor company's stock worth $1,077,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Performance

NYSE:TSM traded down $0.93 during trading hours on Thursday, reaching $241.98. 7,477,713 shares of the company's stock were exchanged, compared to its average volume of 15,439,508. The firm has a market capitalization of $1.26 trillion, a price-to-earnings ratio of 27.62, a P/E/G ratio of 1.16 and a beta of 1.29. The company has a 50-day moving average of $220.43 and a 200 day moving average of $195.55. 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 Company Ltd. has a 1-year low of $133.57 and a 1-year high of $248.28.

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 for the quarter, beating the consensus estimate of $2.13 by $0.34. The business had revenue of $30.07 billion for 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 business's quarterly revenue was up 44.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 earnings per share. Research analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be issued a $0.6499 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.07%. Taiwan Semiconductor Manufacturing's dividend payout ratio is presently 29.65%.

Analyst Ratings Changes

Several research firms have commented on TSM. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and set a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Barclays reiterated an "overweight" rating and set a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Finally, Susquehanna boosted their price target on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a report on Monday, July 14th. 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, Taiwan Semiconductor Manufacturing presently has an average rating of "Moderate Buy" and a consensus price target 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.