Principal Financial Group Inc. Purchases 1,106,695 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Principal Financial Group Inc. increased its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 74.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 2,603,108 shares of the semiconductor company's stock after buying an additional 1,106,695 shares during the quarter. Principal Financial Group Inc. owned 0.05% of Taiwan Semiconductor Manufacturing worth $432,116,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Guardian Partners Inc. purchased a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at $9,222,000. Pinnacle Investment Management Ltd purchased a new position in Taiwan Semiconductor Manufacturing in the 4th quarter valued at approximately $26,661,000. Sentry LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the first quarter worth $222,000. Polymer Capital Management HK LTD raised its stake in shares of Taiwan Semiconductor Manufacturing by 47.7% during the 4th quarter. Polymer Capital Management HK LTD now owns 86,493 shares of the semiconductor company's stock valued at $17,082,000 after purchasing an additional 27,938 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Taiwan Semiconductor Manufacturing by 38.3% during the 4th quarter. Bank of Montreal Can now owns 871,742 shares of the semiconductor company's stock worth $172,160,000 after purchasing an additional 241,414 shares in the last quarter. Institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Price Performance

Taiwan Semiconductor Manufacturing stock traded up $1.89 during mid-day trading on Friday, hitting $235.49. 7,779,584 shares of the company traded hands, compared to its average volume of 15,449,890. The stock has a fifty day moving average price of $198.99 and a 200-day moving average price of $191.22. The stock has a market cap of $1.22 trillion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 1.21 and a beta of 1.29. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $133.57 and a one year high of $237.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.18 and a current ratio of 2.39.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The firm had revenue of $25.82 billion during the quarter, compared to analysts' expectations of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. On average, equities analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal 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 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 yield of 1.10%. Taiwan Semiconductor Manufacturing's payout ratio is 30.59%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TSM. Barclays reiterated an "overweight" rating and set a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Needham & Company LLC upped their target price on shares of Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday. Susquehanna raised their price target on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a "positive" rating in a report on Tuesday, June 17th. Finally, Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $233.75.

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.