Contravisory Investment Management Inc. Trims Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Contravisory Investment Management Inc. cut its holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Free Report) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,394 shares of the semiconductor company's stock after selling 2,072 shares during the period. Taiwan Semiconductor Manufacturing comprises about 2.0% of Contravisory Investment Management Inc.'s holdings, making the stock its 13th largest position. Contravisory Investment Management Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $9,361,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth about $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the 4th quarter valued at about $26,000. Hopwood Financial Services Inc. acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the 4th quarter valued at about $27,000. Roxbury Financial LLC purchased a new position in Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $29,000. Finally, Accredited Wealth Management LLC acquired a new position in Taiwan Semiconductor Manufacturing during the fourth quarter worth approximately $31,000. 16.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the stock an "overweight" rating in a research note on Tuesday. Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Needham & Company LLC reissued a "buy" rating and issued a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Finally, Susquehanna restated a "positive" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $217.00.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM traded up $0.94 during mid-day trading on Thursday, hitting $203.34. The company's stock had a trading volume of 11,415,981 shares, compared to its average volume of 15,836,926. The firm has a market capitalization of $1.05 trillion, a P/E ratio of 28.88, a P/E/G ratio of 0.66 and a beta of 1.21. Taiwan Semiconductor Manufacturing Company Limited has a 1-year low of $133.57 and a 1-year high of $226.40. The firm has a 50-day simple moving average of $172.79 and a 200 day simple moving average of $187.66. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The company had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. Analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. This represents a $2.60 annualized dividend and a yield of 1.28%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is 30.46%.

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.