Motley Fool Asset Management LLC Sells 5,616 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Motley Fool Asset Management LLC reduced its stake in Taiwan Semiconductor Manufacturing Company (NYSE: TSM) by 11.2%, selling 5,616 shares during the first quarter, leaving it with a total of 44,627 shares valued at approximately $7.4 million.
• The company recently reported quarterly earnings of $2.47 per share, surpassing analysts' expectations of $2.13, with revenue reaching $30.07 billion, reflecting a 44.4% year-over-year increase.
• Taiwan Semiconductor announced a quarterly dividend of $0.6499 per share with an annual yield of 1.1%, while maintaining a dividend payout ratio of 28.16%.

Motley Fool Asset Management LLC reduced its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,627 shares of the semiconductor company's stock after selling 5,616 shares during the period. Motley Fool Asset Management LLC's holdings in Taiwan Semiconductor Manufacturing were worth $7,408,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TSM. First Heartland Consultants Inc. increased its stake in shares of Taiwan Semiconductor Manufacturing by 4.2% in the 4th quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company's stock valued at $244,000 after buying an additional 50 shares during the period. Formidable Asset Management LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company's stock worth $317,000 after purchasing an additional 50 shares during the period. Connecticut Wealth Management LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 0.7% during the fourth quarter. Connecticut Wealth Management LLC now owns 7,416 shares of the semiconductor company's stock worth $1,465,000 after purchasing an additional 55 shares during the period. WealthCollab LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 6.7% during the fourth quarter. WealthCollab LLC now owns 891 shares of the semiconductor company's stock worth $176,000 after purchasing an additional 56 shares during the period. Finally, WealthPlan Investment Management LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 3.2% during the first quarter. WealthPlan Investment Management LLC now owns 1,847 shares of the semiconductor company's stock worth $307,000 after purchasing an additional 57 shares during the period. 16.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays reaffirmed an "overweight" rating and set a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Susquehanna lifted their price objective on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research note on Monday, July 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Finally, Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $258.33.

Taiwan Semiconductor Manufacturing Trading Up 0.8%

TSM stock traded up $1.90 during midday trading on Tuesday, hitting $243.99. 7,294,659 shares of the company's stock were exchanged, compared to its average volume of 12,346,192. The stock's fifty day moving average price is $228.27 and its 200-day moving average price is $197.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.15 and a current ratio of 2.37. The company has a market cap of $1.27 trillion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $134.25 and a one year high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.34. The firm had revenue of $30.07 billion for the quarter, compared to analyst estimates 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 for the quarter was up 44.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 earnings per share. Research 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 declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is 28.16%.

Taiwan Semiconductor Manufacturing Company 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.