Riverpark Capital Management LLC Purchases 1,220 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Riverpark Capital Management LLC raised its stake in Taiwan Semiconductor Manufacturing Company by 26.1%, owning a total of 5,889 shares valued at approximately $978,000.
• Multiple institutional investors, including Goldman Sachs and Price T Rowe Associates, have significantly increased their holdings in Taiwan Semiconductor, showcasing growing confidence in the company.
• Analysts maintain a Moderate Buy rating for Taiwan Semiconductor's stock, with an average price target of $258.33, reflecting positive sentiment in the market.

Riverpark Capital Management LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 26.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 5,889 shares of the semiconductor company's stock after acquiring an additional 1,220 shares during the period. Taiwan Semiconductor Manufacturing makes up about 1.8% of Riverpark Capital Management LLC's investment portfolio, making the stock its 26th biggest position. Riverpark Capital Management LLC's holdings in Taiwan Semiconductor Manufacturing were worth $978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSM. DekaBank Deutsche Girozentrale increased 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 purchasing an additional 11,693 shares in the last quarter. Pinnacle Investment Management Ltd acquired a new stake in Taiwan Semiconductor Manufacturing in the 4th quarter valued at about $26,661,000. Sentry LLC acquired a new stake in Taiwan Semiconductor Manufacturing in the 1st quarter valued at about $222,000. Compound Global Advisors LLC increased its position in Taiwan Semiconductor Manufacturing by 31.2% in the 1st quarter. Compound Global Advisors LLC now owns 4,796 shares of the semiconductor company's stock valued at $747,000 after acquiring an additional 1,141 shares in the last quarter. Finally, Alpha Cubed Investments LLC increased its position in Taiwan Semiconductor Manufacturing by 283.7% in the 1st quarter. Alpha Cubed Investments LLC now owns 194,028 shares of the semiconductor company's stock valued at $32,209,000 after acquiring an additional 143,457 shares in the last quarter. 16.51% of the stock is owned by institutional investors.

Taiwan Semiconductor Manufacturing Stock Down 0.3%

TSM traded down $0.71 during trading on Friday, reaching $241.91. The company had a trading volume of 10,540,805 shares, compared to its average volume of 12,379,486. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.37 and a quick ratio of 2.15. Taiwan Semiconductor Manufacturing Company Ltd. has a 12 month low of $134.25 and a 12 month high of $248.28. The business's fifty day moving average price is $226.40 and its 200 day moving average price is $196.73. The company has a market cap of $1.25 trillion, a P/E ratio of 27.58, a PEG ratio of 1.17 and a beta of 1.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.34. The business had revenue of $30.07 billion for 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 32.87%. The firm's revenue for the quarter was up 44.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 earnings per share. Equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is currently 28.16%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Susquehanna lifted their price target on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research report on Monday, July 14th. Needham & Company LLC reissued a "buy" rating and set a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Barclays reaffirmed an "overweight" rating and issued a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Finally, Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company 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.