Marietta Investment Partners LLC Cuts Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Marietta Investment Partners LLC reduced its stake in Taiwan Semiconductor Manufacturing Company by 17.6% in the first quarter, now holding 4,990 shares valued at approximately $828,000.
• Taiwan Semiconductor reported a strong earnings performance, with an EPS of $2.47 for the quarter, exceeding estimates and representing a 44.4% increase in revenue year-over-year.
• Analysts remain optimistic, with several firms reaffirming a "buy" rating and raising price targets, including Citigroup and Needham & Company, reflecting confidence in the company's growth potential.

Marietta Investment Partners LLC decreased its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 17.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,990 shares of the semiconductor company's stock after selling 1,068 shares during the quarter. Marietta Investment Partners LLC's holdings in Taiwan Semiconductor Manufacturing were worth $828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSM. Brighton Jones LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 20.9% during the fourth quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company's stock worth $2,159,000 after acquiring an additional 1,892 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth $1,029,000. Financial Engines Advisors L.L.C. purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth $218,000. NEOS Investment Management LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 22.9% during the fourth quarter. NEOS Investment Management LLC now owns 11,368 shares of the semiconductor company's stock worth $2,245,000 after acquiring an additional 2,117 shares during the period. Finally, AssuredPartners Investment Advisors LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth $910,000. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM stock opened at $245.55 on Friday. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average price of $217.47 and a 200 day moving average price of $194.84. The company has a market cap of $1.27 trillion, a P/E ratio of 28.00, a PEG ratio of 1.16 and a beta of 1.29. Taiwan Semiconductor Manufacturing Company Ltd. has a 12 month low of $133.57 and a 12 month high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.34. The firm 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 34.53%. The company's revenue was up 44.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.48 earnings per share. Sell-side 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 company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.6499 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.06%. Taiwan Semiconductor Manufacturing's payout ratio is currently 28.16%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. 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 set a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Finally, Susquehanna upped their price objective 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.

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