RFG Advisory LLC Reduces Stock Position in Taiwan Semiconductor Manufacturing Company Ltd. $TSM

Key Points

• RFG Advisory LLC reduced its stake in Taiwan Semiconductor Manufacturing Company by 23.5% in the second quarter, now holding 7,368 shares valued at approximately $1.67 million.
• Several institutional investors, including Alliance Wealth Advisors LLC and Pflug Koory LLC, increased their positions in Taiwan Semiconductor, reflecting a mixed sentiment among institutional investors.
• The company recently raised its quarterly dividend to $0.8348 per share, up from $0.65, indicating a positive shift in its shareholder returns.

RFG Advisory LLC lessened its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 23.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,368 shares of the semiconductor company's stock after selling 2,269 shares during the quarter. RFG Advisory LLC's holdings in Taiwan Semiconductor Manufacturing were worth $1,669,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Alliance Wealth Advisors LLC boosted its stake in shares of Taiwan Semiconductor Manufacturing by 2.4% during the second quarter. Alliance Wealth Advisors LLC now owns 1,815 shares of the semiconductor company's stock valued at $411,000 after purchasing an additional 43 shares during the period. Pflug Koory LLC boosted its stake in shares of Taiwan Semiconductor Manufacturing by 3.9% during the second quarter. Pflug Koory LLC now owns 1,133 shares of the semiconductor company's stock valued at $257,000 after purchasing an additional 43 shares during the period. Westmount Partners LLC boosted its stake in shares of Taiwan Semiconductor Manufacturing by 2.2% during the second quarter. Westmount Partners LLC now owns 2,126 shares of the semiconductor company's stock valued at $481,000 after purchasing an additional 45 shares during the period. Mirador Capital Partners LP boosted its stake in shares of Taiwan Semiconductor Manufacturing by 2.6% during the second quarter. Mirador Capital Partners LP now owns 1,785 shares of the semiconductor company's stock valued at $404,000 after purchasing an additional 45 shares during the period. Finally, Matisse Capital boosted its stake in shares of Taiwan Semiconductor Manufacturing by 1.3% during the second quarter. Matisse Capital now owns 3,607 shares of the semiconductor company's stock valued at $817,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 16.51% of the company's stock.

Analyst Ratings Changes

TSM has been the subject of several recent research reports. Susquehanna lifted their price objective on Taiwan Semiconductor Manufacturing from $300.00 to $400.00 and gave the company a "positive" rating in a report on Friday, October 10th. Barclays lifted their price objective on Taiwan Semiconductor Manufacturing from $325.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, October 9th. Wall Street Zen upgraded Taiwan Semiconductor Manufacturing from a "hold" rating to a "buy" rating in a report on Sunday, August 31st. Weiss Ratings restated a "hold (c+)" rating on shares of Taiwan Semiconductor Manufacturing in a report on Wednesday, October 8th. Finally, Itau BBA Securities initiated coverage on Taiwan Semiconductor Manufacturing in a report on Tuesday, October 7th. They issued an "outperform" rating for the company. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $333.33.

Taiwan Semiconductor Manufacturing Stock Performance

TSM stock opened at $305.48 on Thursday. The firm has a market cap of $1.58 trillion, a price-to-earnings ratio of 34.83, a PEG ratio of 1.41 and a beta of 1.28. The firm has a 50-day simple moving average of $259.95 and a two-hundred day simple moving average of $219.85. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $134.25 and a one year high of $307.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.15 and a current ratio of 2.37.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.13 by $0.34. The business had revenue of $30.07 billion during the quarter, compared to analyst estimates of $28.50 billion. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 33.37%. The company's quarterly revenue was up 44.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.48 earnings per share. On average, equities analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 11th will be given a dividend of $0.8348 per share. The ex-dividend date of this dividend is Thursday, December 11th. This is a positive change from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.65. This represents a $3.34 annualized dividend and a dividend yield of 1.1%. Taiwan Semiconductor Manufacturing's payout ratio is currently 29.99%.

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.

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