Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Position Reduced by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has reduced its holdings in Taiwan Semiconductor Manufacturing Company (TSM) by 1.6%, retaining approximately 4.69 million shares, making it the 9th largest position in their portfolio.
• The company's quarterly earnings report indicated a net margin of 42.91% and revenue of $30.07 billion, surpassing analysts' expectations and showing a 44.4% increase compared to the previous year.
• Analyst ratings for TSM reflect a consensus of "Moderate Buy," with price targets ranging from $240.00 to $270.00, suggesting bullish sentiments among several analysts.

Russell Investments Group Ltd. lessened its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,690,038 shares of the semiconductor company's stock after selling 75,490 shares during the period. Taiwan Semiconductor Manufacturing accounts for approximately 1.1% of Russell Investments Group Ltd.'s holdings, making the stock its 9th biggest position. Russell Investments Group Ltd. owned 0.09% of Taiwan Semiconductor Manufacturing worth $778,421,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TSM. First Heartland Consultants Inc. boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 4.2% in the fourth quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company's stock valued at $244,000 after acquiring an additional 50 shares during the period. Formidable Asset Management LLC raised its stake in shares of Taiwan Semiconductor Manufacturing by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company's stock worth $317,000 after purchasing an additional 50 shares during the last quarter. Connecticut Wealth Management LLC raised its stake in shares of Taiwan Semiconductor Manufacturing by 0.7% during the fourth quarter. Connecticut Wealth Management LLC now owns 7,416 shares of the semiconductor company's stock worth $1,465,000 after purchasing an additional 55 shares during the last quarter. WealthCollab LLC raised its stake in shares of Taiwan Semiconductor Manufacturing by 6.7% during the fourth quarter. WealthCollab LLC now owns 891 shares of the semiconductor company's stock worth $176,000 after purchasing an additional 56 shares during the last quarter. Finally, WealthPlan Investment Management LLC raised its stake in shares of Taiwan Semiconductor Manufacturing by 3.2% during the first quarter. WealthPlan Investment Management LLC now owns 1,847 shares of the semiconductor company's stock worth $307,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Price Performance

TSM stock traded up $1.90 on Tuesday, reaching $243.99. 7,294,659 shares of the company's stock were exchanged, compared to its average volume of 12,346,192. The stock has a fifty day moving average of $228.27 and a 200-day moving average of $197.00. Taiwan Semiconductor Manufacturing Company Ltd. has a twelve month low of $134.25 and a twelve month high of $248.28. The firm has a market cap of $1.27 trillion, a PE ratio of 27.82, a P/E/G ratio of 1.17 and a beta of 1.19. 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 announced its quarterly 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 for the quarter, compared to analyst estimates of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The company's quarterly revenue was up 44.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.48 EPS. As a group, equities analysts predict 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 announced 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 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is presently 28.16%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TSM shares. Needham & Company LLC restated a "buy" rating and set a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Barclays restated an "overweight" rating and set a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Susquehanna upped their price target on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research note on Monday, July 14th. Finally, Citigroup restated 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.