Strategy Capital LLC Decreases Holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Strategy Capital LLC reduced its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (TSM) by 6.2%, now owning 355,851 shares valued at approximately $59 million.
• During the same period, several other institutional investors adjusted their positions, with WealthCollab LLC increasing its stake by 6.7% and Formidable Asset Management LLC by 3.2%.
• Taiwan Semiconductor Manufacturing reported a quarterly earnings per share of $2.47, significantly exceeding expectations, and announced a dividend of $0.6499 to be paid on October 9th.

Strategy Capital LLC decreased its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 355,851 shares of the semiconductor company's stock after selling 23,656 shares during the period. Taiwan Semiconductor Manufacturing makes up 5.6% of Strategy Capital LLC's portfolio, making the stock its 7th largest holding. Strategy Capital LLC's holdings in Taiwan Semiconductor Manufacturing were worth $59,071,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 20.9% during the 4th quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company's stock worth $2,159,000 after purchasing an additional 1,892 shares in the last quarter. Savvy Advisors Inc. lifted its position in Taiwan Semiconductor Manufacturing by 13.4% in the fourth quarter. Savvy Advisors Inc. now owns 2,380 shares of the semiconductor company's stock worth $470,000 after purchasing an additional 282 shares during the period. Keystone Financial Group lifted its position in Taiwan Semiconductor Manufacturing by 15.3% in the fourth quarter. Keystone Financial Group now owns 2,854 shares of the semiconductor company's stock worth $565,000 after purchasing an additional 379 shares during the period. Peninsula Wealth LLC lifted its position in Taiwan Semiconductor Manufacturing by 7.6% in the fourth quarter. Peninsula Wealth LLC now owns 2,331 shares of the semiconductor company's stock worth $460,000 after purchasing an additional 165 shares during the period. Finally, Mariner LLC lifted its position in Taiwan Semiconductor Manufacturing by 5.2% in the fourth quarter. Mariner LLC now owns 222,948 shares of the semiconductor company's stock worth $44,032,000 after purchasing an additional 10,983 shares during the period. Institutional investors and hedge funds own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM traded up $1.90 during trading hours on Tuesday, hitting $243.99. The stock had a trading volume of 7,294,659 shares, compared to its average volume of 12,346,192. The company's fifty day moving average is $228.27 and its two-hundred day moving average is $197.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.37 and a quick ratio of 2.15. Taiwan Semiconductor Manufacturing Company Ltd. has a 52 week low of $134.25 and a 52 week high of $248.28. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 1.17 and a beta of 1.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The business had revenue of $30.07 billion during the quarter, compared to analysts' expectations of $28.50 billion. During the same period in the previous year, the business posted $1.48 earnings per share. The firm's revenue for the quarter was up 44.4% compared to the same quarter last year. On average, analysts anticipate 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 issued a $0.6499 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is currently 28.16%.

Wall Street Analyst Weigh In

TSM has been the subject of several research reports. Barclays reaffirmed 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. Susquehanna raised their target price on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research report on Monday, July 14th. Finally, Citigroup reaffirmed 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average 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.