Scotia Capital Inc. Sells 21,590 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Scotia Capital Inc. trimmed its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 6.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 323,728 shares of the semiconductor company's stock after selling 21,590 shares during the period. Scotia Capital Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $53,739,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. First Heartland Consultants Inc. lifted its position in Taiwan Semiconductor Manufacturing by 4.2% during the fourth quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company's stock valued at $244,000 after acquiring an additional 50 shares during the last quarter. Formidable Asset Management LLC lifted its position in Taiwan Semiconductor Manufacturing by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company's stock valued at $317,000 after acquiring an additional 50 shares during the last quarter. Connecticut Wealth Management LLC lifted its position in Taiwan Semiconductor Manufacturing by 0.7% during the fourth quarter. Connecticut Wealth Management LLC now owns 7,416 shares of the semiconductor company's stock valued at $1,465,000 after acquiring an additional 55 shares during the last quarter. WealthCollab LLC lifted its position in Taiwan Semiconductor Manufacturing by 6.7% during the fourth quarter. WealthCollab LLC now owns 891 shares of the semiconductor company's stock valued at $176,000 after acquiring an additional 56 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its position in Taiwan Semiconductor Manufacturing by 1.1% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 5,455 shares of the semiconductor company's stock valued at $1,077,000 after acquiring an additional 59 shares during the last quarter. 16.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TSM shares. Susquehanna increased their target price on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the company a "positive" rating in a research report on Monday, July 14th. Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Barclays reissued an "overweight" rating and issued a $240.00 target price (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $258.33.

Taiwan Semiconductor Manufacturing Stock Down 2.6%

TSM stock opened at $235.28 on Friday. 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 2.18 and a current ratio of 2.37. The firm's fifty day moving average is $222.20 and its 200 day moving average is $195.99. 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. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 32.87%. The company had revenue of $30.07 billion for the quarter, compared to analyst estimates of $28.50 billion. During the same quarter last year, the business earned $1.48 earnings per share. The firm's revenue was up 44.4% on a year-over-year basis. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a yield of 1.1%. Taiwan Semiconductor Manufacturing's payout ratio is presently 28.16%.

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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