Ruffer LLP Decreases Stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Ruffer LLP has reduced its stake in Taiwan Semiconductor Manufacturing Company Ltd. by 17.3%, now holding 272,911 shares worth approximately $45.3 million.
• Institutional investors, including FMR LLC and Price T Rowe Associates, have also adjusted their positions, with FMR LLC increasing its holdings by 4.6% during the past quarter.
• Taiwan Semiconductor Manufacturing recently announced a quarterly dividend of $0.6499 per share, representing a 1.1% yield, while its stock is currently down 2.6%.

Ruffer LLP lowered its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 17.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 272,911 shares of the semiconductor company's stock after selling 57,060 shares during the period. Taiwan Semiconductor Manufacturing accounts for 1.7% of Ruffer LLP's holdings, making the stock its 14th biggest position. Ruffer LLP's holdings in Taiwan Semiconductor Manufacturing were worth $45,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 4.6% in the fourth quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock worth $11,562,498,000 after buying an additional 2,572,488 shares during the last quarter. Sanders Capital LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 0.6% in the fourth quarter. Sanders Capital LLC now owns 41,877,457 shares of the semiconductor company's stock worth $8,270,379,000 after acquiring an additional 231,310 shares during the period. Capital World Investors increased its stake in shares of Taiwan Semiconductor Manufacturing by 0.8% in the fourth quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company's stock worth $7,031,632,000 after acquiring an additional 294,316 shares during the period. Capital International Investors increased its stake in shares of Taiwan Semiconductor Manufacturing by 8.2% in the fourth quarter. Capital International Investors now owns 22,210,222 shares of the semiconductor company's stock worth $4,391,957,000 after acquiring an additional 1,683,256 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Taiwan Semiconductor Manufacturing by 67.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock worth $2,047,065,000 after acquiring an additional 4,158,772 shares during the period. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Down 2.6%

TSM stock opened at $235.28 on Monday. The firm has a market cap of $1.22 trillion, a PE 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 quick ratio of 2.15 and a current ratio of 2.37. The firm's fifty day moving average is $222.20 and its 200 day moving average is $195.85. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $133.57 and a one year high of $248.28.

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 company 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 was up 44.4% on a year-over-year basis. During the same quarter last year, the business earned $1.48 earnings per share. On average, research analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business 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. This represents a $2.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 28.16%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TSM. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Susquehanna increased their price objective on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research note on Monday, July 14th. Barclays reiterated 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. Finally, Needham & Company LLC restated a "buy" rating and set a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing presently has a consensus 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.

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