PNC Financial Services Group Inc. Increases Holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• PNC Financial Services Group Inc. increased its stake in Taiwan Semiconductor Manufacturing Company by 1.0%, acquiring an additional 10,190 shares, bringing its total holdings to 998,797 shares valued at $165.8 million.
• The company reported strong quarterly earnings with an earnings per share (EPS) of $2.47, surpassing the consensus estimate of $2.13 and marking a 44.4% increase in revenue year-over-year.
• Taiwan Semiconductor Manufacturing recently announced a quarterly dividend of $0.6499 per share, expected to yield 1.1% annually, with a payout ratio of 28.16%.

PNC Financial Services Group Inc. raised its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 998,797 shares of the semiconductor company's stock after purchasing an additional 10,190 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $165,800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TSM. City Holding Co. boosted its stake 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 acquiring an additional 119 shares in the last quarter. Accredited Wealth Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $31,000. Signature Resources Capital Management LLC boosted its stake in shares of Taiwan Semiconductor Manufacturing by 138.8% during the 1st quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 111 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 1st quarter worth approximately $33,000. Finally, Glass Jacobson Investment Advisors llc raised its position in shares of Taiwan Semiconductor Manufacturing by 289.4% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 16.51% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. Susquehanna lifted their price objective on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research report on Monday, July 14th. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Finally, Barclays restated an "overweight" rating and set a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $258.33.

Taiwan Semiconductor Manufacturing Trading Down 2.6%

TSM traded down $6.34 during trading on Friday, hitting $235.28. The company's stock had a trading volume of 13,529,531 shares, compared to its average volume of 12,369,697. The firm's 50 day moving average price is $222.20 and its 200-day moving average price is $195.85. 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 stock has a market cap of $1.22 trillion, a PE ratio of 26.83, a PEG ratio of 1.13 and a beta of 1.19. Taiwan Semiconductor Manufacturing Company Ltd. has a twelve month low of $133.57 and a twelve month high of $248.28.

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. The company had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. Taiwan Semiconductor Manufacturing's revenue was up 44.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 EPS. On average, analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.6499 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a dividend yield of 1.1%. Taiwan Semiconductor Manufacturing's payout ratio is currently 28.16%.

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.