LGT Capital Partners LTD. Has $96.50 Million Stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• LGT Capital Partners LTD. reduced its stake in Taiwan Semiconductor Manufacturing by 17.0%, owning 581,343 shares valued at approximately $96.5 million, making it the firm's 6th largest position.
• Research analysts largely favor Taiwan Semiconductor Manufacturing, with most recommending a buy rating and a target price averaging around $258.33.
• The company reported strong financial performance, with $2.47 earnings per share for the last quarter, exceeding estimates by $0.34, and a year-over-year revenue increase of 44.4%.

LGT Capital Partners LTD. decreased its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 17.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 581,343 shares of the semiconductor company's stock after selling 118,787 shares during the period. Taiwan Semiconductor Manufacturing comprises approximately 4.3% of LGT Capital Partners LTD.'s portfolio, making the stock its 6th biggest holding. LGT Capital Partners LTD.'s holdings in Taiwan Semiconductor Manufacturing were worth $96,503,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Aviso Wealth Management boosted its holdings in Taiwan Semiconductor Manufacturing by 50.7% in the first quarter. Aviso Wealth Management now owns 7,646 shares of the semiconductor company's stock valued at $1,269,000 after acquiring an additional 2,574 shares in the last quarter. R Squared Ltd boosted its holdings in Taiwan Semiconductor Manufacturing by 4,370.0% in the first quarter. R Squared Ltd now owns 4,470 shares of the semiconductor company's stock valued at $742,000 after acquiring an additional 4,370 shares in the last quarter. Banco Santander S.A. boosted its holdings in Taiwan Semiconductor Manufacturing by 5.7% in the first quarter. Banco Santander S.A. now owns 24,420 shares of the semiconductor company's stock valued at $4,054,000 after acquiring an additional 1,320 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Taiwan Semiconductor Manufacturing by 1.0% during the first quarter. PNC Financial Services Group Inc. now owns 998,797 shares of the semiconductor company's stock valued at $165,800,000 after buying an additional 10,190 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in Taiwan Semiconductor Manufacturing by 40.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 450,390 shares of the semiconductor company's stock valued at $74,765,000 after buying an additional 130,551 shares during the period. Institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of Taiwan Semiconductor Manufacturing stock traded down $6.34 during trading hours on Friday, reaching $235.28. 13,529,531 shares of the stock traded hands, compared to its average volume of 12,369,697. The company has a 50 day moving average price of $222.20 and a 200 day moving average price of $195.85. The firm has a market capitalization of $1.22 trillion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.13 and a beta of 1.19. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $133.57 and a one year high of $248.28. The company has a quick ratio of 2.15, a current ratio of 2.37 and a debt-to-equity ratio of 0.18.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share 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 firm had revenue of $30.07 billion for the quarter, compared to analysts' expectations of $28.50 billion. During the same period in the previous year, the firm earned $1.48 EPS. The business's quarterly revenue was up 44.4% on a year-over-year basis. On average, equities research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed 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. 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 presently 28.16%.

Analyst Upgrades and Downgrades

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

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.