Picton Mahoney Asset Management Increases Holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Picton Mahoney Asset Management boosted its holdings in Taiwan Semiconductor Manufacturing Company (TSMC) by 8.5% in Q1, now owning a total of 89,861 shares valued at approximately $14.9 million.
• Institutional investors hold 16.51% of TSMC's stock, with Price T Rowe Associates increasing its stake by 67%, and FMR LLC raising its holdings by 4.6% in the previous quarter.
• TSMC's latest earnings report showed an EPS of $2.47, exceeding expectations and reflecting a 44.4% revenue growth year-over-year, with projected EPS of 9.2 for the current year.

Picton Mahoney Asset Management increased its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 8.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,861 shares of the semiconductor company's stock after purchasing an additional 7,072 shares during the quarter. Picton Mahoney Asset Management's holdings in Taiwan Semiconductor Manufacturing were worth $14,916,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of TSM. Price T Rowe Associates Inc. MD boosted its stake in shares of Taiwan Semiconductor Manufacturing by 67.0% during the fourth 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 during the period. FMR LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 4.6% in the fourth quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock worth $11,562,498,000 after buying an additional 2,572,488 shares during the period. Jennison Associates LLC raised 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 buying an additional 2,559,512 shares during the last quarter. Sarasin & Partners LLP purchased a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter valued at $362,773,000. Finally, Franklin Resources Inc. grew its holdings in Taiwan Semiconductor Manufacturing by 32.3% in the 4th quarter. Franklin Resources Inc. now owns 8,498,063 shares of the semiconductor company's stock worth $1,678,283,000 after acquiring an additional 2,074,329 shares during the last quarter. Institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Trading Down 1.2%

NYSE:TSM opened at $242.71 on Tuesday. The company has a 50-day moving average price of $218.46 and a 200-day moving average price of $194.90. The stock has a market cap of $1.26 trillion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 1.18 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. Taiwan Semiconductor Manufacturing Company Ltd. has a 12 month low of $133.57 and a 12 month high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 34.53%. The business had revenue of $30.07 billion during the quarter, compared to analyst estimates of $28.50 billion. During the same period last year, the business posted $1.48 earnings per share. Taiwan Semiconductor Manufacturing's quarterly revenue was up 44.4% compared to the same quarter last year. Equities analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be paid a $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a yield of 1.07%. Taiwan Semiconductor Manufacturing's payout ratio is 28.16%.

Analyst Upgrades and Downgrades

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