Maverick Capital Ltd. Has $418.17 Million Stock Position in Taiwan Semiconductor Manufacturing Company Ltd. $TSM

Key Points

• Maverick Capital reduced its TSMC position by 25.4% in the first quarter, selling 421,292 shares and retaining 1.24 million shares valued at approximately $418.2 million. TSMC remains the firm’s third-largest holding and represents 4.8% of its portfolio.
• TSMC reported quarterly revenue of $39.89 billion and earnings of $4.28 per share, with a 50.31% net margin and 40.88% return on equity. The company also increased its quarterly dividend to $1.1136, implying an annualized yield of about 1.1%.
• Analyst sentiment remains positive: TSMC has an average “Buy” rating and a consensus price target of $496.25, while several firms recently raised their targets to between $590 and $600.

Maverick Capital Ltd. reduced its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 25.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,237,358 shares of the semiconductor company's stock after selling 421,292 shares during the period. Taiwan Semiconductor Manufacturing accounts for approximately 4.8% of Maverick Capital Ltd.'s investment portfolio, making the stock its 3rd largest holding. Maverick Capital Ltd.'s holdings in Taiwan Semiconductor Manufacturing were worth $418,165,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Twin City Private Wealth LLC boosted its stake in Taiwan Semiconductor Manufacturing by 0.3% in the first quarter. Twin City Private Wealth LLC now owns 7,315 shares of the semiconductor company's stock valued at $2,479,000 after acquiring an additional 25 shares during the last quarter. Financial Life Planners boosted its holdings in Taiwan Semiconductor Manufacturing by 3.4% during the first quarter. Financial Life Planners now owns 786 shares of the semiconductor company's stock worth $266,000 after buying an additional 26 shares during the last quarter. Corus Family Wealth Advisors increased its stake in shares of Taiwan Semiconductor Manufacturing by 1.1% in the 1st quarter. Corus Family Wealth Advisors now owns 2,401 shares of the semiconductor company's stock valued at $811,000 after acquiring an additional 26 shares during the last quarter. Lodestar Private Asset Management LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 0.9% in the 1st quarter. Lodestar Private Asset Management LLC now owns 2,896 shares of the semiconductor company's stock valued at $979,000 after acquiring an additional 27 shares during the period. Finally, Mitchell Sinkler & Starr PA raised its holdings in Taiwan Semiconductor Manufacturing by 1.9% in the fourth quarter. Mitchell Sinkler & Starr PA now owns 1,482 shares of the semiconductor company's stock worth $450,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Performance

NYSE:TSM opened at $399.94 on Tuesday. The stock's 50-day simple moving average is $427.75 and its 200 day simple moving average is $382.65. The firm has a market capitalization of $2.07 trillion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 0.93 and a beta of 1.36. Taiwan Semiconductor Manufacturing Company Ltd. has a twelve month low of $223.70 and a twelve month high of $479.00. The company has a quick ratio of 2.31, a current ratio of 2.49 and a debt-to-equity ratio of 0.16.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The semiconductor company reported $4.28 earnings per share (EPS) for the quarter. Taiwan Semiconductor Manufacturing had a net margin of 50.31% and a return on equity of 40.88%. The firm had revenue of $39.89 billion during the quarter. On average, analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 16.34 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 16th will be paid a $1.1136 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $4.45 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.95. Taiwan Semiconductor Manufacturing's payout ratio is currently 21.43%.

Wall Street Analysts Forecast Growth

TSM has been the subject of several research analyst reports. Bank of America boosted their price target on shares of Taiwan Semiconductor Manufacturing from $490.00 to $590.00 and gave the company a "buy" rating in a report on Wednesday, June 24th. Susquehanna lifted their price target on shares of Taiwan Semiconductor Manufacturing from $575.00 to $600.00 and gave the company a "positive" rating in a research note on Thursday, July 16th. TD Cowen upped their price target on shares of Taiwan Semiconductor Manufacturing from $400.00 to $440.00 and gave the company a "hold" rating in a report on Friday, July 17th. Zacks Research raised shares of Taiwan Semiconductor Manufacturing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. Finally, Wall Street Zen raised shares of Taiwan Semiconductor Manufacturing from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 18th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing currently has an average rating of "Buy" and a consensus target price of $496.25.

Insider Activity

In other Taiwan Semiconductor Manufacturing news, VP Tzu-Sou Chuang sold 200,000 shares of the company's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $69.83, for a total transaction of $13,966,000.00. Following the sale, the vice president owned 2,495,165 shares of the company's stock, valued at approximately $174,237,371.95. This represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Lipen Yuan purchased 1,000 shares of the firm's stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $79.19 per share, with a total value of $79,190.00. Following the completion of the acquisition, the vice president owned 5,000 shares in the company, valued at approximately $395,950. This trade represents a 25.00% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 6,857 shares of company stock valued at $512,334. 1.11% of the stock is currently owned by insiders.

Taiwan Semiconductor Manufacturing Profile

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC's service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.

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