Summit Global Investments Boosts Stock Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Summit Global Investments lifted its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Free Report) by 279.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,829 shares of the semiconductor company's stock after purchasing an additional 7,978 shares during the quarter. Summit Global Investments' holdings in Taiwan Semiconductor Manufacturing were worth $1,798,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TSM. Tompkins Financial Corp increased its stake in Taiwan Semiconductor Manufacturing by 8.5% in the 1st quarter. Tompkins Financial Corp now owns 1,272 shares of the semiconductor company's stock worth $211,000 after acquiring an additional 100 shares during the last quarter. GAMMA Investing LLC increased its holdings in Taiwan Semiconductor Manufacturing by 17,658.8% during the 1st quarter. GAMMA Investing LLC now owns 1,511,098 shares of the semiconductor company's stock worth $250,842,000 after purchasing an additional 1,502,589 shares during the period. Capital Market Strategies LLC raised its position in Taiwan Semiconductor Manufacturing by 9.1% during the 1st quarter. Capital Market Strategies LLC now owns 13,431 shares of the semiconductor company's stock valued at $2,230,000 after purchasing an additional 1,120 shares in the last quarter. Franchise Capital Ltd bought a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter valued at $15,662,000. Finally, Park National Corp OH grew its position in shares of Taiwan Semiconductor Manufacturing by 14.9% during the 1st quarter. Park National Corp OH now owns 2,776 shares of the semiconductor company's stock worth $461,000 after buying an additional 359 shares in the last quarter. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Barclays restated a "hold" rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, April 25th. Needham & Company LLC reiterated a "buy" rating and set a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, April 17th. Finally, Susquehanna reissued a "positive" rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, April 25th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $212.00.

Taiwan Semiconductor Manufacturing Stock Down 1.9%

NYSE:TSM traded down $3.79 during midday trading on Friday, reaching $193.36. 11,983,485 shares of the stock traded hands, compared to its average volume of 15,876,208. The business has a 50-day moving average of $171.06 and a two-hundred day moving average of $187.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.30 and a current ratio of 2.57. Taiwan Semiconductor Manufacturing Company Limited has a 12-month low of $133.57 and a 12-month high of $226.40. The stock has a market capitalization of $1.00 trillion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 0.66 and a beta of 1.21.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings data 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 return on equity of 30.47% and a net margin of 40.51%. The firm had revenue of $25.82 billion during the quarter, compared to analysts' expectations of $834.10 billion. On average, equities analysts forecast that Taiwan Semiconductor Manufacturing Company Limited 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. Investors of record on Tuesday, September 16th will be paid a $0.6499 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 27.76%.

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.