Russell Investments Group Ltd. Purchases 451,966 Shares of Taiwan Semiconductor Manufacturing Company Ltd. $TSM

Key Points

• Russell Investments increased its TSMC stake by 12.5%, buying 451,966 shares in the third quarter to hold 4.06 million shares valued at about $1.85 billion.
• TSMC reported record October revenue of NT$586.89 billion, up 59.7% year over year. Its latest quarterly earnings also beat analyst estimates, with revenue up 41.2% year over year.
• TSMC raised its quarterly dividend from $1.0854 to $1.3663 per share. Analysts maintain an average “Buy” rating, with an average price target of $533.89.

Russell Investments Group Ltd. increased its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 12.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,057,858 shares of the semiconductor company's stock after purchasing an additional 451,966 shares during the quarter. Taiwan Semiconductor Manufacturing makes up 1.6% of Russell Investments Group Ltd.'s portfolio, making the stock its 8th biggest position. Russell Investments Group Ltd. owned 0.08% of Taiwan Semiconductor Manufacturing worth $1,851,187,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tiger Global Management LLC boosted its stake in shares of Taiwan Semiconductor Manufacturing by 49.4% in the 1st quarter. Tiger Global Management LLC now owns 5,565,074 shares of the semiconductor company's stock valued at $1,880,717,000 after purchasing an additional 1,839,600 shares during the last quarter. Sei Investments Co. grew its position in shares of Taiwan Semiconductor Manufacturing by 11.8% during the 1st quarter. Sei Investments Co. now owns 2,591,510 shares of the semiconductor company's stock worth $875,802,000 after buying an additional 274,389 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Taiwan Semiconductor Manufacturing by 67.2% during the third quarter. Assenagon Asset Management S.A. now owns 1,717,515 shares of the semiconductor company's stock worth $783,513,000 after buying an additional 690,523 shares during the last quarter. Bahl & Gaynor LLC raised its stake in shares of Taiwan Semiconductor Manufacturing by 16.4% during the third quarter. Bahl & Gaynor LLC now owns 1,636,856 shares of the semiconductor company's stock worth $746,717,000 after buying an additional 231,157 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Taiwan Semiconductor Manufacturing by 7.9% during the first quarter. Bessemer Group Inc. now owns 1,781,764 shares of the semiconductor company's stock worth $602,147,000 after buying an additional 130,602 shares during the last quarter. 16.51% of the stock is owned by institutional investors.

Key Stories Impacting Taiwan Semiconductor Manufacturing

Here are a few of the latest stories about TSM:

• Positive Sentiment: TSMC reported record October revenue of NT$586.89 billion, up 59.7% year over year. The result points to continuing demand for advanced chips and supports the company’s growth outlook. TSMC Stocks Climb After Record October Revenue
• Neutral Sentiment: ETFs were net sellers of TSMC shares on Nov. 10, a potential near-term headwind for trading, but one day of fund flows does not establish a longer-term trend. ETFs Are Net Sellers of Taiwan Semiconductor
• Negative Sentiment: NVIDIA’s leadership upheaval has rattled semiconductor shares, overshadowing TSMC’s strong October sales. Because TSMC supplies NVIDIA as well as other chip designers, the turmoil may create sector-wide uncertainty even as AI demand remains robust. TSMC Stocks Fall as NVIDIA Shake-Up Overshadows Record October Revenue

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM opened at $405.85 on Friday. The stock has a market cap of $2.10 trillion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 0.82 and a beta of 1.44. Taiwan Semiconductor Manufacturing Company Ltd. has a 1 year low of $266.82 and a 1 year high of $487.47. The stock's 50-day moving average price is $430.47 and its two-hundred day moving average price is $402.19. The company has a current ratio of 2.46, a quick ratio of 2.25 and a debt-to-equity ratio of 0.14.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings results on Thursday, October 15th. The semiconductor company reported $4.60 EPS for the quarter, beating analysts' consensus estimates of $4.45 by $0.15. The company had revenue of $46.72 billion during the quarter, compared to analysts' expectations of $45.67 billion. Taiwan Semiconductor Manufacturing had a return on equity of 42.84% and a net margin of 51.51%. Taiwan Semiconductor Manufacturing's revenue was up 41.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.92 EPS. On average, equities analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 17.36 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 8th. Investors of record on Thursday, March 11th will be issued a dividend of $1.3663 per share. This is an increase from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $1.0854. This represents a $5.47 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, March 11th. Taiwan Semiconductor Manufacturing's dividend payout ratio is presently 22.27%.

Analyst Ratings Changes

TSM has been the topic of several analyst reports. Needham & Company LLC increased their price objective on shares of Taiwan Semiconductor Manufacturing from $530.00 to $560.00 and gave the company a "buy" rating in a report on Thursday, October 15th. Stifel Nicolaus started coverage on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, September 1st. They set a "buy" rating and a $515.00 target price for the company. Sanford C. Bernstein upped their target price on shares of Taiwan Semiconductor Manufacturing from $554.00 to $600.00 and gave the company an "outperform" rating in a research report on Wednesday, November 4th. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, October 7th. Finally, Barclays increased their price target on Taiwan Semiconductor Manufacturing from $665.00 to $670.00 and gave the company an "overweight" rating in a research note on Friday, October 16th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $533.89.

Insider Buying and Selling

In other news, Director Michael R. Splinter bought 840 shares of the stock in a transaction on Thursday, November 5th. The stock was purchased at an average price of $357.00 per share, with a total value of $299,880.00. Following the completion of the purchase, the director owned 8,405 shares of the company's stock, valued at approximately $3,000,585. This trade represents a 11.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Lipen Yuan bought 1,000 shares of the stock in a transaction on Sunday, November 1st. The stock was purchased at an average cost of $71.49 per share, with a total value of $71,490.00. Following the purchase, the vice president directly owned 8,000 shares of the company's stock, valued at approximately $571,920. This represents a 14.29% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 7,869 shares of company stock valued at $823,771. Corporate insiders own 1.11% of the company's stock.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Company (TSMC) is a semiconductor foundry that manufactures chips designed by other companies. It provides wafer fabrication and related services, including advanced packaging, serving customers across industries such as computing, communications, automotive and consumer electronics. Founded in 1987 and headquartered in Hsinchu, Taiwan, TSMC helped establish the dedicated foundry model, in which a manufacturer focuses on producing semiconductors for customers rather than selling its own chip designs.

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