Nutshell Asset Management Ltd Grows Stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Nutshell Asset Management Ltd increased its stake in Taiwan Semiconductor Manufacturing Company by 174.2% in the first quarter, holding 26,734 shares valued at approximately $4.44 million.
• Several analysts have issued buy ratings on the company, with price targets ranging from $240.00 to $270.00, indicating a positive outlook on the stock.
• Taiwan Semiconductor Manufacturing reported earnings of $2.47 per share, surpassing estimates, and its revenue grew 44.4% year-over-year, amounting to $30.07 billion for the quarter.

Nutshell Asset Management Ltd grew its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 174.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,734 shares of the semiconductor company's stock after acquiring an additional 16,984 shares during the period. Taiwan Semiconductor Manufacturing comprises 2.3% of Nutshell Asset Management Ltd's investment portfolio, making the stock its 15th biggest position. Nutshell Asset Management Ltd's holdings in Taiwan Semiconductor Manufacturing were worth $4,438,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

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

Taiwan Semiconductor Manufacturing Stock Up 4.7%

Shares of NYSE TSM opened at $242.27 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.37 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.26 trillion, a P/E ratio of 27.63, a P/E/G ratio of 1.12 and a beta of 1.19. Taiwan Semiconductor Manufacturing Company Ltd. has a 52 week low of $134.25 and a 52 week high of $248.28. The business has a 50-day simple moving average of $225.43 and a two-hundred day simple moving average of $196.75.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.34. The firm had revenue of $30.07 billion for 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 32.87%. The company's revenue for the quarter was up 44.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.48 earnings per share. Research analysts anticipate 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. Shareholders of record on Tuesday, September 16th will be issued a $0.6499 dividend. This represents a $2.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 28.16%.

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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