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Kovack Advisors Inc. Raises Stock Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Taiwan Semiconductor Manufacturing logo with Computer and Technology background

Kovack Advisors Inc. raised its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 16.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,903 shares of the semiconductor company's stock after buying an additional 1,240 shares during the period. Kovack Advisors Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $1,478,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. City Holding Co. raised its stake in shares of Taiwan Semiconductor Manufacturing by 238.0% during the first quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 119 shares during the last quarter. Accredited Wealth Management LLC bought a new position in Taiwan Semiconductor Manufacturing in the fourth quarter worth about $31,000. Signature Resources Capital Management LLC raised its stake in Taiwan Semiconductor Manufacturing by 138.8% in 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. Graybill Wealth Management LTD. bought a new position in Taiwan Semiconductor Manufacturing in the first quarter worth about $33,000. Finally, Glass Jacobson Investment Advisors llc raised its stake in Taiwan Semiconductor Manufacturing by 289.4% in 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. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Stock Up 1.6%

TSM traded up $3.95 during midday trading on Friday, reaching $245.55. The company's stock had a trading volume of 11,583,376 shares, compared to its average volume of 11,641,382. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 28.00, a PEG ratio of 1.16 and a beta of 1.29. 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 Company Ltd. has a 1 year low of $133.57 and a 1 year high of $248.28. The stock's 50-day moving average is $217.47 and its 200-day moving average is $194.84.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted 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 net margin of 42.91% and a return on equity of 34.53%. 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 company posted $1.48 earnings per share. The business's revenue for the quarter was up 44.4% on a year-over-year basis. As a group, research analysts expect 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 issued a dividend of $0.6499 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is 28.16%.

Analysts Set New Price Targets

A number of research firms recently issued reports on TSM. Susquehanna increased their price target on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research note on Monday, July 14th. Barclays restated an "overweight" rating and issued a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Needham & Company LLC restated a "buy" rating and issued a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Finally, Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $258.33.

View Our Latest Research Report on Taiwan Semiconductor Manufacturing

About Taiwan Semiconductor Manufacturing

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Taiwan Semiconductor Manufacturing (NYSE:TSM)

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