Truist Financial Corp Sells 8,189 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Truist Financial Corp reduced its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 413,274 shares of the semiconductor company's stock after selling 8,189 shares during the period. Truist Financial Corp's holdings in Taiwan Semiconductor Manufacturing were worth $68,603,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Capital Investment Advisory Services LLC grew its position in Taiwan Semiconductor Manufacturing by 11.6% in the first quarter. Capital Investment Advisory Services LLC now owns 4,226 shares of the semiconductor company's stock worth $701,000 after acquiring an additional 438 shares in the last quarter. Impax Asset Management Group plc grew its position in Taiwan Semiconductor Manufacturing by 27.2% in the first quarter. Impax Asset Management Group plc now owns 30,958 shares of the semiconductor company's stock worth $5,139,000 after acquiring an additional 6,613 shares in the last quarter. Strategic Blueprint LLC grew its position in Taiwan Semiconductor Manufacturing by 38.7% in the first quarter. Strategic Blueprint LLC now owns 3,166 shares of the semiconductor company's stock worth $526,000 after acquiring an additional 884 shares in the last quarter. Brookstone Capital Management grew its position in Taiwan Semiconductor Manufacturing by 13.4% in the first quarter. Brookstone Capital Management now owns 8,437 shares of the semiconductor company's stock worth $1,400,000 after acquiring an additional 995 shares in the last quarter. Finally, Huntleigh Advisors Inc. grew its position in Taiwan Semiconductor Manufacturing by 5.1% in the first quarter. Huntleigh Advisors Inc. now owns 32,055 shares of the semiconductor company's stock worth $5,321,000 after acquiring an additional 1,547 shares in the last quarter. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on TSM shares. Needham & Company LLC upped their target price on shares of Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Susquehanna boosted their price target on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a "positive" rating in a research note on Tuesday, June 17th. Finally, Barclays reissued an "overweight" rating and issued a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $233.75.

Taiwan Semiconductor Manufacturing Trading Up 0.8%

Taiwan Semiconductor Manufacturing stock traded up $1.89 during mid-day trading on Friday, hitting $235.49. The company's stock had a trading volume of 7,779,584 shares, compared to its average volume of 15,466,264. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 2.18. The stock has a market cap of $1.22 trillion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 1.22 and a beta of 1.29. The business has a 50 day moving average price of $200.39 and a 200-day moving average price of $191.44. Taiwan Semiconductor Manufacturing Company Ltd. has a 12 month low of $133.57 and a 12 month high of $237.58.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. The firm had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $834.10 billion. Taiwan Semiconductor Manufacturing had a net margin of 41.67% and a return on equity of 31.43%. As a group, analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.6499 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is 33.42%.

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.