Kingsview Wealth Management LLC Cuts Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Kingsview Wealth Management LLC lessened its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,717 shares of the semiconductor company's stock after selling 1,248 shares during the period. Kingsview Wealth Management LLC's holdings in Taiwan Semiconductor Manufacturing were worth $2,775,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSM. Price T Rowe Associates Inc. MD lifted its holdings in 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 buying an additional 4,158,772 shares in the last quarter. FMR LLC lifted its stake 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 valued at $11,562,498,000 after acquiring an additional 2,572,488 shares during the period. Sarasin & Partners LLP acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 1st quarter valued at $362,773,000. Franklin Resources Inc. raised its position in Taiwan Semiconductor Manufacturing by 32.3% during the fourth quarter. Franklin Resources Inc. now owns 8,498,063 shares of the semiconductor company's stock worth $1,678,283,000 after acquiring an additional 2,074,329 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Taiwan Semiconductor Manufacturing by 45.2% during the fourth quarter. Northern Trust Corp now owns 6,244,965 shares of the semiconductor company's stock worth $1,233,318,000 after buying an additional 1,944,328 shares in the last quarter. Institutional investors own 16.51% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSM. Barclays reissued an "overweight" rating and set a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Susquehanna set a $265.00 target price on shares of Taiwan Semiconductor Manufacturing and gave the stock a "positive" rating in a research report on Monday, July 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday. Finally, Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. 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.com, Taiwan Semiconductor Manufacturing has an average rating of "Moderate Buy" and an average price target of $258.33.

Taiwan Semiconductor Manufacturing Price Performance

Shares of NYSE:TSM opened at $240.40 on Friday. Taiwan Semiconductor Manufacturing Company Ltd. has a 1-year low of $133.57 and a 1-year high of $248.28. The firm has a market capitalization of $1.25 trillion, a PE ratio of 27.41, a PEG ratio of 1.32 and a beta of 1.29. The business's 50 day moving average is $212.72 and its 200-day moving average is $193.73. 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 released its quarterly earnings data 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 34.53% and a net margin of 42.91%. The business had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. The firm's revenue was up 44.4% on a year-over-year basis. Sell-side analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be given a $0.6499 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 annualized dividend and a yield of 1.08%. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 29.65%.

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.

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