Naviter Wealth LLC Purchases 1,707 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Naviter Wealth LLC raised its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,095 shares of the semiconductor company's stock after purchasing an additional 1,707 shares during the quarter. Taiwan Semiconductor Manufacturing comprises about 2.0% of Naviter Wealth LLC's investment portfolio, making the stock its 9th biggest position. Naviter Wealth LLC's holdings in Taiwan Semiconductor Manufacturing were worth $16,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new position in Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $26,000. Hopwood Financial Services Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter valued at $27,000. Accredited Wealth Management LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter valued at $31,000. City Holding Co. increased its holdings in shares of Taiwan Semiconductor Manufacturing by 238.0% in the first quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock valued at $28,000 after buying an additional 119 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc raised its stake in Taiwan Semiconductor Manufacturing by 289.4% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 136 shares during the period. 16.51% of the stock is owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM stock opened at $228.47 on Friday. The firm has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. Taiwan Semiconductor Manufacturing Company Ltd. has a 12-month low of $133.57 and a 12-month high of $228.88. The firm has a fifty day moving average of $192.99 and a 200-day moving average of $190.29. The company has a quick ratio of 2.18, a current ratio of 2.39 and a debt-to-equity ratio of 0.22.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a net margin of 41.67% and a return on equity of 31.43%. The firm had revenue of $25.82 billion for the quarter, compared to analysts' expectations of $834.10 billion. On average, equities research analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current 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 given a dividend of $0.6499 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.14%. Taiwan Semiconductor Manufacturing's payout ratio is presently 30.59%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TSM. Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Susquehanna upped their price objective on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a "positive" rating in a report on Tuesday, June 17th. Needham & Company LLC restated a "buy" rating and set a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Finally, Barclays restated an "overweight" rating and set a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $222.50.

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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