Malaga Cove Capital LLC Sells 2,364 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Malaga Cove Capital LLC reduced its stake in Taiwan Semiconductor Manufacturing Company by 11.8%, selling 2,364 shares, and now holds 17,683 shares valued at approximately $2.93 million.
• Despite the reduction in shares, institutional ownership in Taiwan Semiconductor Manufacturing stands at 16.51%, with several institutions increasing their stakes in the company during the fourth quarter.
• The company reported a significant increase in its quarterly revenue, reaching $30.07 billion, and earnings per share of $2.47, significantly exceeding analysts' expectations of $2.13.

Malaga Cove Capital LLC cut its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 11.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,683 shares of the semiconductor company's stock after selling 2,364 shares during the period. Taiwan Semiconductor Manufacturing accounts for 1.3% of Malaga Cove Capital LLC's holdings, making the stock its 20th largest position. Malaga Cove Capital LLC's holdings in Taiwan Semiconductor Manufacturing were worth $2,935,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in 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 during the last quarter. Trexquant Investment LP bought a new position in Taiwan Semiconductor Manufacturing during the 4th quarter worth $7,299,000. Huntington National Bank lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 4.7% during the fourth quarter. Huntington National Bank now owns 14,757 shares of the semiconductor company's stock worth $2,914,000 after buying an additional 665 shares in the last quarter. Arete Wealth Advisors LLC boosted its position in shares of Taiwan Semiconductor Manufacturing by 9.0% in the fourth quarter. Arete Wealth Advisors LLC now owns 5,207 shares of the semiconductor company's stock valued at $1,030,000 after acquiring an additional 432 shares during the period. Finally, Orleans Capital Management Corp LA grew its stake in shares of Taiwan Semiconductor Manufacturing by 5.6% in the fourth quarter. Orleans Capital Management Corp LA now owns 5,690 shares of the semiconductor company's stock valued at $1,188,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Trading Down 2.6%

TSM opened at $235.28 on Friday. The stock has a market capitalization of $1.22 trillion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.16 and a beta of 1.19. The company has a quick ratio of 2.18, a current ratio of 2.37 and a debt-to-equity ratio of 0.18. Taiwan Semiconductor Manufacturing Company Ltd. has a twelve month low of $133.57 and a twelve month high of $248.28. The company has a 50-day simple moving average of $222.20 and a 200 day simple moving average of $196.06.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly 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. The company had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 32.87%. The firm's quarterly revenue was up 44.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 EPS. Analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently announced 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. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is currently 28.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TSM shares. Susquehanna raised 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 report on Monday, July 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Finally, 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $258.33.

About Taiwan Semiconductor Manufacturing

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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