Prosperity Consulting Group LLC Has $4.56 Million Stock Holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Prosperity Consulting Group LLC reduced its stake in Taiwan Semiconductor Manufacturing by 3.9%, holding 27,488 shares valued at $4.56 million after selling 1,118 shares in the first quarter.
• The company recently reported earnings of $2.47 per share, surpassing expectations and showcasing a 44.4% increase in revenue year-over-year, totaling $30.07 billion.
• Taiwan Semiconductor Manufacturing has announced a quarterly dividend of $0.6499, with an annualized yield of 1.06%, and its dividend payout ratio stands at 28.16%.

Prosperity Consulting Group LLC lowered its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 3.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,488 shares of the semiconductor company's stock after selling 1,118 shares during the quarter. Prosperity Consulting Group LLC's holdings in Taiwan Semiconductor Manufacturing were worth $4,563,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TSM. City Holding Co. increased its stake in shares of Taiwan Semiconductor Manufacturing by 238.0% in the first quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock valued at $28,000 after buying an additional 119 shares during the period. Accredited Wealth Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $31,000. Signature Resources Capital Management LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 138.8% in the first quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock valued at $32,000 after buying an additional 111 shares during the period. Graybill Wealth Management LTD. acquired a new position in shares of Taiwan Semiconductor Manufacturing in the first quarter valued at approximately $33,000. Finally, Glass Jacobson Investment Advisors llc increased its stake in shares of Taiwan Semiconductor Manufacturing by 289.4% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company's stock valued at $36,000 after buying an additional 136 shares during the period. Institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Trading Down 0.4%

Shares of Taiwan Semiconductor Manufacturing stock traded down $0.93 on Thursday, reaching $241.98. 7,477,713 shares of the company's stock were exchanged, compared to its average volume of 15,439,508. The company has a market capitalization of $1.26 trillion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 1.16 and a beta of 1.29. Taiwan Semiconductor Manufacturing Company Ltd. has a 52 week low of $133.57 and a 52 week high of $248.28. The firm's 50-day moving average is $220.43 and its two-hundred day moving average is $195.55. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.18 and a current ratio of 2.37.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, beating 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 32.87%. The business had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. During the same quarter last year, the firm posted $1.48 EPS. Taiwan Semiconductor Manufacturing's revenue was up 44.4% compared to the same quarter last year. Sell-side analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be issued 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 1.07%. Taiwan Semiconductor Manufacturing's payout ratio is 29.65%.

Wall Street Analysts Forecast Growth

TSM has been the subject of several recent research reports. Barclays reaffirmed an "overweight" rating and issued a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Susquehanna increased their target price on shares of 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 target price 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $258.33.

Taiwan Semiconductor Manufacturing Company 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.