Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 506,870 shares of the semiconductor company's stock after selling 16,229 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $84,140,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TSM. IMG Wealth Management Inc. purchased a new stake in Taiwan Semiconductor Manufacturing in the 4th quarter valued at approximately $26,000. Hopwood Financial Services Inc. purchased a new stake in Taiwan Semiconductor Manufacturing in the 4th quarter valued at approximately $27,000. City Holding Co. raised its holdings in Taiwan Semiconductor Manufacturing by 238.0% in the 1st quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 119 shares during the last quarter. Accredited Wealth Management LLC acquired a new position in Taiwan Semiconductor Manufacturing in the 4th quarter valued at $31,000. Finally, Signature Resources Capital Management LLC raised its holdings in Taiwan Semiconductor Manufacturing by 138.8% in the 1st quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 111 shares during the last quarter. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSM has been the subject of several analyst reports. Needham & Company LLC boosted their price target on Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Susquehanna boosted their price target on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a "positive" rating in a report on Tuesday, June 17th. Finally, Barclays reiterated an "overweight" rating and issued a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $233.75.

Taiwan Semiconductor Manufacturing Trading Down 0.7%

Shares of TSM stock traded down $1.60 on Tuesday, reaching $224.89. 9,980,329 shares of the stock were exchanged, compared to its average volume of 15,441,534. The firm has a 50 day moving average of $194.57 and a two-hundred day moving average of $190.46. The company has a quick ratio of 2.18, a current ratio of 2.39 and a debt-to-equity ratio of 0.22. Taiwan Semiconductor Manufacturing Company Ltd. has a 1-year low of $133.57 and a 1-year high of $228.88. The stock has a market cap of $1.17 trillion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a net margin of 41.67% and a return on equity of 31.43%. The firm had revenue of $25.82 billion during the quarter, compared to analysts' expectations of $834.10 billion. On average, research analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 annualized dividend and a dividend yield of 1.16%. Taiwan Semiconductor Manufacturing's payout ratio is 30.59%.

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.