Raiffeisen Bank International AG Sells 69,252 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Raiffeisen Bank International AG has reduced its stake in Taiwan Semiconductor Manufacturing Company by 27.9%, selling 69,252 shares during the first quarter, resulting in holdings worth approximately $29.57 million.
• Analysts have recently raised their price targets for Taiwan Semiconductor, with Susquehanna increasing its target from $255.00 to $265.00 and Needham & Company setting a target of $270.00.
• Taiwan Semiconductor has reported strong quarterly earnings, with an EPS of $2.47, beating estimates, and has announced a new quarterly dividend of $0.6499, effective October 9th.

Raiffeisen Bank International AG lowered its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 27.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 178,925 shares of the semiconductor company's stock after selling 69,252 shares during the quarter. Raiffeisen Bank International AG's holdings in Taiwan Semiconductor Manufacturing were worth $29,567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its position in shares of Taiwan Semiconductor Manufacturing by 0.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,339,479 shares of the semiconductor company's stock worth $214,442,000 after buying an additional 11,693 shares during the period. Pinnacle Investment Management Ltd bought a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $26,661,000. Sentry LLC bought a new position in shares of Taiwan Semiconductor Manufacturing during the 1st quarter worth approximately $222,000. Compound Global Advisors LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 31.2% during the 1st quarter. Compound Global Advisors LLC now owns 4,796 shares of the semiconductor company's stock worth $747,000 after buying an additional 1,141 shares during the period. Finally, Polymer Capital Management HK LTD lifted its position 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 worth $17,082,000 after buying an additional 27,938 shares during the period. Institutional investors own 16.51% of the company's stock.

Analyst Upgrades and Downgrades

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

Taiwan Semiconductor Manufacturing Trading Down 2.6%

TSM stock opened at $235.28 on Friday. The business has a fifty day moving average price of $222.20 and a 200 day moving average price of $195.99. Taiwan Semiconductor Manufacturing Company Ltd. has a fifty-two week low of $133.57 and a fifty-two week high of $248.28. The stock has a market capitalization of $1.22 trillion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.13 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.37 and a quick ratio of 2.18.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.13 by $0.34. The firm had revenue of $30.07 billion during the quarter, compared to analysts' expectations of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The business's revenue was up 44.4% on a year-over-year basis. During the same period last year, the firm posted $1.48 EPS. Analysts expect 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 announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be paid a $0.6499 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is 28.16%.

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.

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