Skandinaviska Enskilda Banken AB publ Sells 2,931 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Skandinaviska Enskilda Banken AB reduced its stake in Taiwan Semiconductor Manufacturing Company by 12.6%, selling 2,931 shares and holding now 20,243 shares valued at approximately $3.35 million.
• Several institutional investors have significantly increased their positions in Taiwan Semiconductor, notably City Holding Co. which grew its stake by 238.0% during the same period.
• Taiwan Semiconductor reported earnings of $2.47 per share for the recent quarter, exceeding expectations, with a revenue of $30.07 billion, reflecting a 44.4% increase year-over-year.

Skandinaviska Enskilda Banken AB publ lessened its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 12.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,243 shares of the semiconductor company's stock after selling 2,931 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Taiwan Semiconductor Manufacturing were worth $3,353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSM. DekaBank Deutsche Girozentrale grew its holdings in shares of Taiwan Semiconductor Manufacturing by 0.9% in 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 during the last quarter. Pinnacle Investment Management Ltd bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth about $26,661,000. Sentry LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 1st quarter worth about $222,000. Compound Global Advisors LLC grew its holdings in shares of 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 worth $747,000 after purchasing an additional 1,141 shares during the last quarter. Finally, Polymer Capital Management HK LTD grew its holdings in shares of Taiwan Semiconductor Manufacturing by 47.7% in the 4th quarter. Polymer Capital Management HK LTD now owns 86,493 shares of the semiconductor company's stock worth $17,082,000 after purchasing an additional 27,938 shares during the last quarter. Institutional investors own 16.51% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TSM. Barclays reiterated an "overweight" rating and set a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Susquehanna upped 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 reiterated a "buy" rating and set a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. Finally, Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing presently has a consensus rating of "Moderate Buy" and an average target price of $258.33.

Taiwan Semiconductor Manufacturing Trading Down 2.7%

Shares of NYSE TSM traded down $6.58 during mid-day trading on Friday, hitting $235.04. The company's stock had a trading volume of 8,156,270 shares, compared to its average volume of 15,431,291. The stock has a market cap of $1.22 trillion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 1.17 and a beta of 1.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.37 and a quick ratio of 2.18. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $133.57 and a one year high of $248.28. The company's fifty day simple moving average is $221.34 and its 200-day simple moving average is $195.83.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (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 company's revenue for the quarter was up 44.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.48 EPS. On average, sell-side analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.6499 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a yield of 1.1%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 28.16%.

Taiwan Semiconductor Manufacturing 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.