Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Position Trimmed by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management Inc. reduced its stake in Taiwan Semiconductor Manufacturing Company by 9.1%, holding a total of 771,676 shares valued at approximately $128 million as of its latest SEC filing.
• Analysts remain optimistic on Taiwan Semiconductor Manufacturing, with Barclays and Needham & Company issuing buy ratings and target prices of $240.00 and $270.00, respectively.
• The company reported strong quarterly earnings, achieving an EPS of $2.47 and revenue of $30.07 billion, exceeding analysts' expectations.

Thornburg Investment Management Inc. lessened its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 771,676 shares of the semiconductor company's stock after selling 77,013 shares during the quarter. Taiwan Semiconductor Manufacturing makes up 1.8% of Thornburg Investment Management Inc.'s investment portfolio, making the stock its 15th largest holding. Thornburg Investment Management Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $128,098,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. First Heartland Consultants Inc. grew its stake in Taiwan Semiconductor Manufacturing by 4.2% during the 4th 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 in the last quarter. Formidable Asset Management LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company's stock valued at $317,000 after buying an additional 50 shares during the last quarter. Connecticut Wealth Management LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 0.7% during the 4th quarter. Connecticut Wealth Management LLC now owns 7,416 shares of the semiconductor company's stock valued at $1,465,000 after buying an additional 55 shares during the last quarter. WealthCollab LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 6.7% during the 4th quarter. WealthCollab LLC now owns 891 shares of the semiconductor company's stock valued at $176,000 after buying an additional 56 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 1.1% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 5,455 shares of the semiconductor company's stock valued at $1,077,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 16.51% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays reiterated an "overweight" rating and set a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Needham & Company LLC restated a "buy" rating and issued a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Finally, Susquehanna set a $265.00 price objective on Taiwan Semiconductor Manufacturing and gave the company a "positive" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $258.33.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM stock opened at $242.71 on Tuesday. The stock has a 50-day moving average price of $218.46 and a 200 day moving average price of $194.90. 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 firm has a market cap of $1.26 trillion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.18 and a beta of 1.29. Taiwan Semiconductor Manufacturing Company Ltd. has a 12 month low of $133.57 and a 12 month high of $248.28.

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

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be paid a $0.6499 dividend. This represents a $2.60 annualized dividend and a yield of 1.07%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is 28.16%.

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.

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