Public Sector Pension Investment Board Trims Stock Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• The Public Sector Pension Investment Board reduced its stake in Taiwan Semiconductor Manufacturing Company Ltd. by 23.2%, selling 114,810 shares in the 1st quarter, leaving it with a total of 379,952 shares valued at approximately $63 million.
• Taiwan Semiconductor announced a quarterly dividend of $0.6499 per share, with an annualized dividend yield of 1.1%. This dividend will be paid to shareholders on October 9th, with an ex-dividend date of September 16th.
• The company reported earnings of $2.47 per share, surpassing analyst expectations, with revenue of $30.07 billion, a 44.4% increase year-over-year.

Public Sector Pension Investment Board reduced its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 23.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 379,952 shares of the semiconductor company's stock after selling 114,810 shares during the quarter. Public Sector Pension Investment Board's holdings in Taiwan Semiconductor Manufacturing were worth $63,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in TSM. Brighton Jones LLC boosted its stake in Taiwan Semiconductor Manufacturing by 20.9% during the fourth quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company's stock valued at $2,159,000 after buying an additional 1,892 shares during the period. Glass Jacobson Investment Advisors llc increased its holdings in 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 valued at $36,000 after purchasing an additional 136 shares during the period. Sagespring Wealth Partners LLC purchased a new position in Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $2,488,000. Sanders Capital LLC increased its holdings in Taiwan Semiconductor Manufacturing by 0.6% during the 4th quarter. Sanders Capital LLC now owns 41,877,457 shares of the semiconductor company's stock valued at $8,270,379,000 after purchasing an additional 231,310 shares during the period. Finally, Savvy Advisors Inc. boosted its position in Taiwan Semiconductor Manufacturing by 13.4% during the 4th quarter. Savvy Advisors Inc. now owns 2,380 shares of the semiconductor company's stock valued at $470,000 after acquiring an additional 282 shares in the last quarter. 16.51% of the stock is owned by institutional investors.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM traded up $1.90 during midday trading on Tuesday, hitting $243.99. 7,294,659 shares of the company traded hands, compared to its average volume of 12,346,192. The firm has a 50 day moving average of $228.27 and a 200-day moving average of $197.00. Taiwan Semiconductor Manufacturing Company Ltd. has a 52 week low of $134.25 and a 52 week high of $248.28. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 27.82, a PEG ratio of 1.17 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.15 and a current ratio of 2.37.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, beating analysts' consensus estimates 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 firm 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 earned $1.48 EPS. The firm's revenue for the quarter was up 44.4% compared to the same quarter last year. On average, analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on TSM shares. Susquehanna lifted 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 restated a "buy" rating and issued a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Barclays reiterated an "overweight" rating and set a $240.00 target price (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Finally, Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently 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.