Naviter Wealth LLC Sells 13,123 Shares of Taiwan Semiconductor Manufacturing Company Ltd. $TSM

Key Points

• Naviter Wealth LLC cut its position in Taiwan Semiconductor (TSM) by 13.3% in Q4, selling 13,123 shares and retaining 85,287 shares worth about $25.99 million, making TSM its sixth-largest holding (~3.4% of assets).
• Wall Street is broadly positive on TSM with a consensus "Buy" and an average target of $391.43; the company reported $3.11 EPS on $30.65B revenue, has a $1.79T market cap and strong margins (net margin 45.13%).

Naviter Wealth LLC decreased its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 13.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,287 shares of the semiconductor company's stock after selling 13,123 shares during the quarter. Taiwan Semiconductor Manufacturing accounts for approximately 3.4% of Naviter Wealth LLC's holdings, making the stock its 6th largest holding. Naviter Wealth LLC's holdings in Taiwan Semiconductor Manufacturing were worth $25,985,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Childress Capital Advisors LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 145.3% in the third quarter. Childress Capital Advisors LLC now owns 3,192 shares of the semiconductor company's stock valued at $891,000 after acquiring an additional 1,891 shares during the last quarter. Shannon River Fund Management LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the third quarter valued at about $2,430,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 9.4% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 101,876 shares of the semiconductor company's stock valued at $28,470,000 after acquiring an additional 8,738 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Taiwan Semiconductor Manufacturing by 28.6% in the third quarter. Hantz Financial Services Inc. now owns 37,216 shares of the semiconductor company's stock valued at $10,394,000 after acquiring an additional 8,284 shares during the last quarter. Finally, Hollencrest Capital Management increased its position in shares of Taiwan Semiconductor Manufacturing by 125.3% in the third quarter. Hollencrest Capital Management now owns 5,216 shares of the semiconductor company's stock valued at $1,457,000 after acquiring an additional 2,901 shares during the last quarter. Institutional investors and hedge funds own 16.51% of the company's stock.

Insider Activity

In other news, VP Bor-Zen Tien acquired 1,000 shares of Taiwan Semiconductor Manufacturing stock in a transaction dated Sunday, March 22nd. The stock was bought at an average price of $55.93 per share, for a total transaction of $55,930.00. Following the completion of the acquisition, the vice president directly owned 9,051 shares in the company, valued at approximately $506,222.43. The trade was a 12.42% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TSM has been the topic of a number of recent research reports. Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, January 9th. TD Cowen lifted their target price on Taiwan Semiconductor Manufacturing from $325.00 to $370.00 and gave the company a "hold" rating in a research report on Friday, January 16th. Dbs Bank raised Taiwan Semiconductor Manufacturing to a "moderate buy" rating in a research report on Friday, January 23rd. DA Davidson raised Taiwan Semiconductor Manufacturing to a "strong-buy" rating in a research report on Friday, February 13th. Finally, Freedom Capital raised Taiwan Semiconductor Manufacturing to a "strong-buy" rating in a research report on Thursday, January 15th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $391.43.

Taiwan Semiconductor Manufacturing Price Performance

Shares of NYSE TSM opened at $344.62 on Wednesday. The business's 50 day moving average price is $349.46 and its two-hundred day moving average price is $317.04. The company has a market cap of $1.79 trillion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 0.93 and a beta of 1.35. The company has a quick ratio of 2.42, a current ratio of 2.62 and a debt-to-equity ratio of 0.17. Taiwan Semiconductor Manufacturing Company Ltd. has a twelve month low of $137.90 and a twelve month high of $390.20.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The semiconductor company reported $3.11 earnings per share for the quarter. The firm had revenue of $30.65 billion for the quarter. Taiwan Semiconductor Manufacturing had a return on equity of 34.89% and a net margin of 45.13%. On average, analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 11th will be given a dividend of $0.9503 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 11th. Taiwan Semiconductor Manufacturing's payout ratio is 28.17%.

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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