Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Holdings Trimmed by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. reduced its stake in Taiwan Semiconductor Manufacturing Company Ltd. by 14.5%, owning 70,828 shares valued at approximately $11.76 million after the sale.
• Several large investors, including Capital International Investors and Price T Rowe Associates Inc. MD, increased their stakes in the company during the fourth quarter.
• Taiwan Semiconductor Manufacturing reported earnings of $2.47 EPS, surpassing estimates, with quarterly revenue reaching $30.07 billion, a 44.4% increase year-over-year.

iA Global Asset Management Inc. trimmed its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 14.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,828 shares of the semiconductor company's stock after selling 11,984 shares during the period. iA Global Asset Management Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $11,757,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TSM. Sanders Capital LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 0.6% during the fourth quarter. Sanders Capital LLC now owns 41,877,457 shares of the semiconductor company's stock valued at $8,270,379,000 after purchasing an additional 231,310 shares during the period. Capital World Investors increased its stake in shares of Taiwan Semiconductor Manufacturing by 0.8% in the 4th quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company's stock valued at $7,031,632,000 after buying an additional 294,316 shares during the period. Capital International Investors increased its stake in shares of Taiwan Semiconductor Manufacturing by 8.2% in the 4th quarter. Capital International Investors now owns 22,210,222 shares of the semiconductor company's stock valued at $4,391,957,000 after buying an additional 1,683,256 shares during the period. Price T Rowe Associates Inc. MD increased its stake 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. Finally, WCM Investment Management LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 0.6% in the 1st quarter. WCM Investment Management LLC now owns 9,734,044 shares of the semiconductor company's stock valued at $1,608,551,000 after purchasing an additional 59,079 shares during the period. 16.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM opened at $238.82 on Tuesday. Taiwan Semiconductor Manufacturing Company Ltd. has a 12 month low of $133.57 and a 12 month high of $248.28. The firm has a fifty day simple moving average of $223.13 and a 200 day simple moving average of $196.04. The stock has a market capitalization of $1.24 trillion, a price-to-earnings ratio of 27.23, a PEG ratio of 1.13 and a beta of 1.19. The company has a current ratio of 2.37, a quick ratio of 2.15 and a debt-to-equity ratio of 0.18.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.13 by $0.34. The business had revenue of $30.07 billion during the quarter, compared to analysts' expectations of $28.50 billion. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 32.87%. The firm's revenue was up 44.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.48 earnings per share. Research analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders 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 yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 28.16%.

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.

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