LGT Fund Management Co Ltd. Sells 12,508 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• LGT Fund Management Co Ltd. sold 12,508 shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM), reducing its stake by 13.8% to own a total of 78,446 shares valued at $13 million.
• Goldman Sachs Group Inc. increased its stake in TSM by 55.6%, while other hedge funds like Price T Rowe Associates and Jennison Associates also boosted their holdings significantly in recent months.
• Taiwan Semiconductor reported earnings of $2.47 EPS in its latest quarterly results, exceeding expectations and marking a 44.4% year-over-year revenue increase to $30.07 billion.

LGT Fund Management Co Ltd. lessened its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 13.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,446 shares of the semiconductor company's stock after selling 12,508 shares during the quarter. Taiwan Semiconductor Manufacturing makes up approximately 1.2% of LGT Fund Management Co Ltd.'s portfolio, making the stock its 21st biggest holding. LGT Fund Management Co Ltd.'s holdings in Taiwan Semiconductor Manufacturing were worth $13,022,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Rathbones Group PLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 16.8% during the 1st quarter. Rathbones Group PLC now owns 778,557 shares of the semiconductor company's stock valued at $129,240,000 after buying an additional 111,975 shares during the last quarter. Westpac Banking Corp lifted its holdings in Taiwan Semiconductor Manufacturing by 25.5% during the first quarter. Westpac Banking Corp now owns 41,930 shares of the semiconductor company's stock valued at $6,960,000 after purchasing an additional 8,510 shares during the last quarter. Trajan Wealth LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 3.8% in the first quarter. Trajan Wealth LLC now owns 243,655 shares of the semiconductor company's stock worth $40,447,000 after purchasing an additional 8,910 shares in the last quarter. Trillium Asset Management LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 15.1% in the first quarter. Trillium Asset Management LLC now owns 246,599 shares of the semiconductor company's stock worth $40,935,000 after purchasing an additional 32,364 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. raised its position in shares of Taiwan Semiconductor Manufacturing by 27.2% in the first quarter. Financial Engines Advisors L.L.C. now owns 1,404 shares of the semiconductor company's stock valued at $233,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM stock traded up $1.90 on Tuesday, reaching $243.99. The company's stock had a trading volume of 7,294,659 shares, compared to its average volume of 12,346,192. Taiwan Semiconductor Manufacturing Company Ltd. has a 12-month low of $134.25 and a 12-month high of $248.28. The stock's 50 day simple moving average is $228.27 and its 200-day simple moving average is $197.00. The company has a quick ratio of 2.15, a current ratio of 2.37 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.27 trillion, a P/E ratio of 27.82, a PEG ratio of 1.17 and a beta of 1.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its quarterly 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 firm had revenue of $30.07 billion for the quarter, compared to analysts' expectations of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The company's revenue was up 44.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 EPS. As a group, equities analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business 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 $0.6499 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 annualized dividend and a yield of 1.1%. Taiwan Semiconductor Manufacturing's payout ratio is 28.16%.

Analyst Ratings Changes

TSM has been the subject of several analyst reports. Barclays reiterated an "overweight" rating and issued a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Needham & Company LLC reiterated a "buy" rating and set a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Finally, Susquehanna upped 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 analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.33.

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.