Avantax Advisory Services Inc. Boosts Stock Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Avantax Advisory Services Inc. has increased its position in Taiwan Semiconductor Manufacturing Company by 5.7%, owning 143,659 shares valued at approximately $23.8 million.
• Taiwan Semiconductor Manufacturing's recent earnings report showed an EPS of $2.47, surpassing estimates, with revenues of $30.07 billion, a 44.4% year-over-year increase.
• The company has declared a quarterly dividend of $0.6499, yielding 1.06%, with a payout ratio of 28.16% as of its most recent announcement.

Avantax Advisory Services Inc. grew its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 143,659 shares of the semiconductor company's stock after purchasing an additional 7,803 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $23,847,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TSM. DekaBank Deutsche Girozentrale lifted its stake in Taiwan Semiconductor Manufacturing by 0.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,339,479 shares of the semiconductor company's stock worth $214,442,000 after acquiring an additional 11,693 shares during the period. Pinnacle Investment Management Ltd purchased a new stake in Taiwan Semiconductor Manufacturing in the fourth quarter worth $26,661,000. Sentry LLC purchased a new stake in Taiwan Semiconductor Manufacturing in the first quarter worth $222,000. Compound Global Advisors LLC lifted its stake in Taiwan Semiconductor Manufacturing by 31.2% in the first quarter. Compound Global Advisors LLC now owns 4,796 shares of the semiconductor company's stock worth $747,000 after acquiring an additional 1,141 shares during the period. Finally, Polymer Capital Management HK LTD lifted its stake in Taiwan Semiconductor Manufacturing by 47.7% in the fourth quarter. Polymer Capital Management HK LTD now owns 86,493 shares of the semiconductor company's stock worth $17,082,000 after acquiring an additional 27,938 shares during the period. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Down 1.3%

Shares of NYSE:TSM traded down $3.29 on Monday, hitting $242.31. 6,497,870 shares of the company traded hands, compared to its average volume of 15,562,188. Taiwan Semiconductor Manufacturing Company Ltd. has a 52 week low of $133.57 and a 52 week high of $248.28. The company has a quick ratio of 2.18, a current ratio of 2.39 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $217.47 and a 200-day simple moving average of $194.66. The company has a market cap of $1.26 trillion, a PE ratio of 27.63, a PEG ratio of 1.18 and a beta of 1.29.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a return on equity of 34.53% and a net margin of 42.91%. The firm had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. During the same period last year, the company earned $1.48 earnings per share. The company's revenue was up 44.4% on a year-over-year basis. As a group, research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be issued a $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a yield of 1.07%. Taiwan Semiconductor Manufacturing's dividend payout ratio is presently 29.65%.

Analyst Upgrades and Downgrades

TSM has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Barclays reiterated an "overweight" rating and issued a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Finally, Susquehanna increased their price objective on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.