Pekin Hardy Strauss Inc. Sells 1,869 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Pekin Hardy Strauss Inc. lowered its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 42.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,536 shares of the semiconductor company's stock after selling 1,869 shares during the quarter. Pekin Hardy Strauss Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSM. IMG Wealth Management Inc. acquired a new position in Taiwan Semiconductor Manufacturing in the 4th quarter valued at $26,000. Hopwood Financial Services Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth $27,000. City Holding Co. boosted its position in shares of Taiwan Semiconductor Manufacturing by 238.0% during the 1st quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 119 shares in the last quarter. Accredited Wealth Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth about $31,000. Finally, Signature Resources Capital Management LLC boosted its position in shares of Taiwan Semiconductor Manufacturing by 138.8% in the 1st quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock worth $32,000 after buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Down 0.6%

NYSE TSM traded down $1.37 during trading on Tuesday, reaching $227.80. 8,838,519 shares of the company's stock were exchanged, compared to its average volume of 15,433,308. Taiwan Semiconductor Manufacturing Company Ltd. has a fifty-two week low of $133.57 and a fifty-two week high of $237.58. The firm has a market capitalization of $1.18 trillion, a PE ratio of 29.28, a P/E/G ratio of 1.22 and a beta of 1.29. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22. The company's fifty day simple moving average is $201.71 and its 200-day simple moving average is $191.64.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.09. The business had revenue of $25.82 billion during the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. Sell-side 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, October 9th. Shareholders of record on Tuesday, September 16th will be given a $0.6499 dividend. This represents a $2.60 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 30.59%.

Analyst Upgrades and Downgrades

TSM has been the subject of a number of research analyst reports. Susquehanna upped their price objective on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a "positive" rating in a research note on Tuesday, June 17th. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Barclays reiterated an "overweight" rating and set a $240.00 target price (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Finally, Needham & Company LLC raised their price objective on Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.75.

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.