Oak Grove Capital LLC Invests $8.33 Million in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Oak Grove Capital LLC has invested approximately $8.33 million in Taiwan Semiconductor Manufacturing Company by acquiring 50,155 shares, making it the 14th largest holding in its portfolio.
• Taiwan Semiconductor Manufacturing reported strong quarterly earnings with an EPS of $2.47, exceeding the estimate of $2.13, and showing a year-over-year revenue increase of 44.4%.
• Analysts are largely bullish on Taiwan Semiconductor Manufacturing, with several firms increasing their price targets, resulting in a consensus price target of $258.33 and a "Moderate Buy" rating.

Oak Grove Capital LLC bought a new position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,155 shares of the semiconductor company's stock, valued at approximately $8,326,000. Taiwan Semiconductor Manufacturing makes up about 1.7% of Oak Grove Capital LLC's holdings, making the stock its 14th largest holding.

A number of other hedge funds have also modified their holdings of the stock. Goldman Sachs Group Inc. increased its holdings in Taiwan Semiconductor Manufacturing by 55.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company's stock valued at $2,872,814,000 after purchasing an additional 6,180,445 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Taiwan Semiconductor Manufacturing by 67.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock valued at $2,047,065,000 after purchasing an additional 4,158,772 shares in the last quarter. Nuveen LLC acquired a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter valued at $482,676,000. Jennison Associates LLC increased its holdings in Taiwan Semiconductor Manufacturing by 36.8% during the 1st quarter. Jennison Associates LLC now owns 9,509,032 shares of the semiconductor company's stock valued at $1,578,499,000 after purchasing an additional 2,559,512 shares in the last quarter. Finally, Sarasin & Partners LLP acquired a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter valued at $362,773,000. 16.51% of the stock is owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Stock Down 0.1%

Shares of TSM opened at $241.18 on Friday. The firm has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.16 and a beta of 1.19. 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 business's fifty day moving average price is $229.81 and its two-hundred day moving average price is $197.64. Taiwan Semiconductor Manufacturing Company Ltd. has a 52 week low of $134.25 and a 52 week high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The business had revenue of $30.07 billion for the quarter, compared to analyst estimates of $28.50 billion. During the same period last year, the company earned $1.48 EPS. The firm's revenue was up 44.4% on a year-over-year basis. On average, analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays reaffirmed 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. Susquehanna increased their price objective on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the company a "positive" rating in a research report on Monday, July 14th. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $258.33.

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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