HB Wealth Management LLC Has $5.99 Million Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• HB Wealth Management LLC increased its stake in Taiwan Semiconductor Manufacturing Company by 46.4%, owning 36,059 shares valued at approximately $5.99 million at the end of the most recent quarter.
• Analysts have a consensus rating of "Moderate Buy" for Taiwan Semiconductor, with price targets ranging from $240.00 to $270.00.
• Despite positive quarterly earnings results, the company recently declared a dividend cut, with an annualized dividend of approximately $2.60 and a dividend yield of 1.06%.

HB Wealth Management LLC increased its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 46.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,059 shares of the semiconductor company's stock after buying an additional 11,422 shares during the period. HB Wealth Management LLC's holdings in Taiwan Semiconductor Manufacturing were worth $5,986,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its position in Taiwan Semiconductor Manufacturing by 4.6% during the fourth quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock worth $11,562,498,000 after buying an additional 2,572,488 shares during the last quarter. Sanders Capital LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing by 0.6% during the 4th quarter. Sanders Capital LLC now owns 41,877,457 shares of the semiconductor company's stock valued at $8,270,379,000 after acquiring an additional 231,310 shares during the last quarter. Capital World Investors increased its holdings in shares of Taiwan Semiconductor Manufacturing by 0.8% during the 4th quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company's stock valued at $7,031,632,000 after acquiring an additional 294,316 shares during the last quarter. Capital International Investors increased its holdings in shares of Taiwan Semiconductor Manufacturing by 8.2% during the 4th quarter. Capital International Investors now owns 22,210,222 shares of the semiconductor company's stock valued at $4,391,957,000 after acquiring an additional 1,683,256 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Taiwan Semiconductor Manufacturing by 67.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock valued at $2,047,065,000 after acquiring an additional 4,158,772 shares during the last quarter. Institutional investors and hedge funds own 16.51% of the company's stock.

Wall Street Analyst Weigh In

TSM has been the topic of several analyst reports. 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. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Finally, Susquehanna raised their price target on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the company a "positive" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $258.33.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of Taiwan Semiconductor Manufacturing stock traded up $1.62 during midday trading on Wednesday, hitting $242.95. The company had a trading volume of 3,122,064 shares, compared to its average volume of 15,470,800. The business's 50 day simple moving average is $219.42 and its two-hundred day simple moving average is $195.23. The stock has a market cap of $1.26 trillion, a PE ratio of 27.73, a P/E/G ratio of 1.17 and a beta of 1.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 2.18. 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 posted its quarterly 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. The company had revenue of $30.07 billion for the quarter, compared to analyst estimates of $28.50 billion. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 34.53%. The business's quarterly revenue was up 44.4% on a year-over-year basis. During the same period last year, the business posted $1.48 EPS. As a group, equities analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 yield of 1.07%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 28.16%.

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.