Lord Abbett & CO. LLC Has $264.29 Million Stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Lord Abbett & CO. LLC lowered its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 13.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,592,083 shares of the semiconductor company's stock after selling 246,204 shares during the quarter. Taiwan Semiconductor Manufacturing accounts for about 0.9% of Lord Abbett & CO. LLC's investment portfolio, making the stock its 21st largest position. Lord Abbett & CO. LLC's holdings in Taiwan Semiconductor Manufacturing were worth $264,286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 20.9% during the 4th quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company's stock worth $2,159,000 after purchasing an additional 1,892 shares in the last quarter. Mariner LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 5.2% during the fourth quarter. Mariner LLC now owns 222,948 shares of the semiconductor company's stock worth $44,032,000 after purchasing an additional 10,983 shares during the period. CreativeOne Wealth LLC grew its stake in Taiwan Semiconductor Manufacturing by 56.3% in the fourth quarter. CreativeOne Wealth LLC now owns 8,318 shares of the semiconductor company's stock valued at $1,643,000 after acquiring an additional 2,995 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Taiwan Semiconductor Manufacturing by 69.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 4,870 shares of the semiconductor company's stock worth $962,000 after buying an additional 2,000 shares during the period. Finally, Regal Investment Advisors LLC boosted its position in shares of Taiwan Semiconductor Manufacturing by 14.4% during the fourth quarter. Regal Investment Advisors LLC now owns 2,090 shares of the semiconductor company's stock worth $413,000 after buying an additional 263 shares during the period. Institutional investors and hedge funds own 16.51% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSM. Barclays reiterated an "overweight" rating and set a $240.00 target price (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Finally, Susquehanna raised their target price on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research report on Monday, July 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, 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 $241.51 on Thursday. Taiwan Semiconductor Manufacturing Company Ltd. has a twelve month low of $134.25 and a twelve month high of $248.28. The stock's 50 day moving average price is $229.05 and its 200-day moving average price is $197.31. The company has a market capitalization of $1.25 trillion, a PE ratio of 27.54, a PEG ratio of 1.18 and a beta of 1.19. The company has a quick ratio of 2.15, a current ratio of 2.37 and a debt-to-equity ratio of 0.18.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The firm had revenue of $30.07 billion for the quarter, compared to the consensus estimate of $28.50 billion. During the same quarter in the previous year, the business earned $1.48 EPS. The company's revenue was up 44.4% compared to the same quarter last year. On average, equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

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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