Kornitzer Capital Management Inc. KS Has $22.02 Million Stock Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Kornitzer Capital Management Inc. KS decreased its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 12.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,627 shares of the semiconductor company's stock after selling 19,718 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Taiwan Semiconductor Manufacturing were worth $22,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TSM. Price T Rowe Associates Inc. MD lifted its position 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 buying an additional 4,158,772 shares during the last quarter. FMR LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 4.6% in 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. Sarasin & Partners LLP acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the first quarter worth about $362,773,000. Franklin Resources Inc. lifted its position in shares of Taiwan Semiconductor Manufacturing by 32.3% in the fourth quarter. Franklin Resources Inc. now owns 8,498,063 shares of the semiconductor company's stock worth $1,678,283,000 after buying an additional 2,074,329 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Taiwan Semiconductor Manufacturing by 45.2% in 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 during the last quarter. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of NYSE TSM traded up $8.29 during trading hours on Tuesday, hitting $236.96. 14,238,990 shares of the company's stock were exchanged, compared to its average volume of 15,247,333. Taiwan Semiconductor Manufacturing Company Ltd. has a 1-year low of $133.57 and a 1-year high of $237.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 2.18. The stock has a market capitalization of $1.23 trillion, a price-to-earnings ratio of 30.46, a PEG ratio of 1.24 and a beta of 1.29. The company's 50-day moving average price is $207.50 and its 200-day moving average price is $192.50.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. The business had revenue of $25.82 billion during the quarter, compared to analysts' expectations of $834.10 billion. On average, sell-side analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share 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 $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a yield of 1.10%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is 31.75%.

Analysts Set New Price Targets

A number of brokerages have weighed in on TSM. Needham & Company LLC boosted their price target on Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Barclays reaffirmed an "overweight" rating and issued a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Finally, Susquehanna set a $265.00 price target on Taiwan Semiconductor Manufacturing and gave the stock a "positive" rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $236.25.

Taiwan Semiconductor Manufacturing Company 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.