Stevens Capital Management LP Purchases Shares of 21,884 Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Stevens Capital Management LP has acquired 21,884 shares of Taiwan Semiconductor Manufacturing Company Ltd., valued at approximately $3.63 million, during the first quarter of the year.
• The company reported $2.47 earnings per share for the last quarter, exceeding analysts' expectations by $0.34, and showed a revenue increase of 44.4% from the previous year.
• Analysts have given Taiwan Semiconductor a consensus rating of "Moderate Buy" with a target price averaging $258.33, highlighting optimism about the company’s future performance.

Stevens Capital Management LP bought a new stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 21,884 shares of the semiconductor company's stock, valued at approximately $3,633,000.

A number of other large investors have also recently made changes to their positions in TSM. Price T Rowe Associates Inc. MD lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 67.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock valued at $2,047,065,000 after buying an additional 4,158,772 shares during the period. FMR LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 4.6% during the 4th quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock valued at $11,562,498,000 after acquiring an additional 2,572,488 shares during the period. Jennison Associates LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 36.8% during the 1st quarter. Jennison Associates LLC now owns 9,509,032 shares of the semiconductor company's stock valued at $1,578,499,000 after acquiring an additional 2,559,512 shares during the period. Sarasin & Partners LLP purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the first quarter valued at about $362,773,000. Finally, Franklin Resources Inc. raised its position in shares of Taiwan Semiconductor Manufacturing by 32.3% during the 4th quarter. Franklin Resources Inc. now owns 8,498,063 shares of the semiconductor company's stock worth $1,678,283,000 after purchasing an additional 2,074,329 shares during the last quarter. 16.51% of the stock is owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Stock Up 1.6%

NYSE TSM traded up $3.95 during trading hours on Friday, hitting $245.55. The company had a trading volume of 11,583,376 shares, compared to its average volume of 11,641,382. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 2.18. Taiwan Semiconductor Manufacturing Company Ltd. has a fifty-two week low of $133.57 and a fifty-two week high of $248.28. The company has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 1.16 and a beta of 1.29. The firm's 50 day moving average is $217.47 and its 200 day moving average is $194.84.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.13 by $0.34. The firm had revenue of $30.07 billion during the quarter, compared to analyst estimates of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 34.53% and a net margin of 42.91%. Taiwan Semiconductor Manufacturing's quarterly revenue was up 44.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.48 EPS. 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 business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 dividend yield of 1.06%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 28.16%.

Wall Street Analysts Forecast Growth

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

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.