Phoenix Financial Ltd. Sells 13,428 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Phoenix Financial Ltd. reduced its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 2.9%, owning 446,078 shares worth approximately $74.3 million after selling 13,428 shares in the first quarter.
• Analysts have issued a consensus rating of "Moderate Buy" for TSM, with a target price of $258.33, following several upgrades and positive earnings reports.
• Taiwan Semiconductor Manufacturing recently announced a quarterly dividend of $0.6499 per share, reflecting an annualized dividend of $2.60 and a yield of 1.08%.

Phoenix Financial Ltd. trimmed its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 446,078 shares of the semiconductor company's stock after selling 13,428 shares during the period. Phoenix Financial Ltd.'s holdings in Taiwan Semiconductor Manufacturing were worth $74,295,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TSM. FMR LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing by 4.6% during the fourth quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock valued at $11,562,498,000 after acquiring an additional 2,572,488 shares in the last quarter. Sanders Capital LLC boosted its stake in Taiwan Semiconductor Manufacturing by 0.6% in the fourth quarter. Sanders Capital LLC now owns 41,877,457 shares of the semiconductor company's stock worth $8,270,379,000 after buying an additional 231,310 shares in the last quarter. Capital World Investors increased its stake in shares of Taiwan Semiconductor Manufacturing by 0.8% during the fourth quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company's stock valued at $7,031,632,000 after buying an additional 294,316 shares during the period. Capital International Investors increased its stake in shares of Taiwan Semiconductor Manufacturing by 8.2% in the 4th quarter. Capital International Investors now owns 22,210,222 shares of the semiconductor company's stock worth $4,391,957,000 after acquiring an additional 1,683,256 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Taiwan Semiconductor Manufacturing by 67.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock worth $2,047,065,000 after acquiring an additional 4,158,772 shares during the last quarter. Institutional investors and hedge funds own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Price Performance

NYSE:TSM traded down $3.13 during trading hours on Monday, reaching $242.47. 7,018,332 shares of the company traded hands, compared to its average volume of 15,566,625. The firm's 50-day moving average is $217.47 and its 200-day moving average is $194.66. The stock has a market cap of $1.26 trillion, a P/E ratio of 27.63, a P/E/G ratio of 1.18 and a beta of 1.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 2.18. Taiwan Semiconductor Manufacturing Company Ltd. has a 1-year low of $133.57 and a 1-year high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a return on equity of 34.53% and a net margin of 42.91%. The company had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. During the same period last year, the firm earned $1.48 earnings per share. The company's revenue was up 44.4% on a year-over-year basis. Equities research analysts expect 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 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. This represents a $2.60 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is 29.65%.

Analysts Set New Price Targets

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