Pinpoint Asset Management Ltd Reduces Stock Holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Pinpoint Asset Management Ltd decreased its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 98.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,647 shares of the semiconductor company's stock after selling 97,970 shares during the quarter. Pinpoint Asset Management Ltd's holdings in Taiwan Semiconductor Manufacturing were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sanders Capital LLC lifted 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 acquiring an additional 231,310 shares during the period. Capital World Investors lifted its stake in Taiwan Semiconductor Manufacturing by 0.8% in the fourth quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company's stock worth $7,031,632,000 after acquiring an additional 294,316 shares during the period. Capital International Investors lifted its stake in Taiwan Semiconductor Manufacturing by 8.2% in the fourth 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 during the period. Goldman Sachs Group Inc. lifted its stake in Taiwan Semiconductor Manufacturing by 55.6% in the first quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company's stock worth $2,872,814,000 after acquiring an additional 6,180,445 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in 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 buying an additional 4,158,772 shares during the period. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Price Performance

Shares of NYSE:TSM opened at $231.26 on Thursday. Taiwan Semiconductor Manufacturing Company Ltd. has a 1-year low of $134.25 and a 1-year high of $248.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.37 and a quick ratio of 2.15. The business has a fifty day moving average price of $224.53 and a 200-day moving average price of $196.54. The company has a market capitalization of $1.20 trillion, a PE ratio of 26.37, a PEG ratio of 1.12 and a beta of 1.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly 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 32.87% and a net margin of 42.91%. The firm 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 company earned $1.48 earnings per share. The company's revenue was up 44.4% on a year-over-year basis. As a group, equities analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.6499 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 annualized dividend and a dividend yield of 1.1%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 29.65%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Barclays reissued an "overweight" rating and set a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Susquehanna raised 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. Needham & Company LLC reissued a "buy" rating and set a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. Finally, Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $258.33.

About Taiwan Semiconductor Manufacturing

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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