Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Shares Acquired by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services LLC increased its holdings in Taiwan Semiconductor Manufacturing Company by 11.4% during the first quarter, owning 400,207 shares worth approximately $66.4 million.
• Analyst ratings for the company show a consensus of "Moderate Buy" with a target price of $258.33, following various upgrades from firms like Susquehanna and Citigroup.
• The company reported a 44.4% increase in revenue year-over-year, totaling $30.07 billion in the latest quarter, exceeding analyst expectations significantly.

Commonwealth Equity Services LLC grew its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400,207 shares of the semiconductor company's stock after purchasing an additional 40,917 shares during the quarter. Commonwealth Equity Services LLC's holdings in Taiwan Semiconductor Manufacturing were worth $66,434,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. City Holding Co. grew its position in shares of Taiwan Semiconductor Manufacturing by 238.0% in the first quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 119 shares during the last quarter. Accredited Wealth Management LLC acquired a new stake in Taiwan Semiconductor Manufacturing during the fourth quarter worth approximately $31,000. Signature Resources Capital Management LLC boosted its position in Taiwan Semiconductor Manufacturing by 138.8% during the first quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 111 shares during the last quarter. Graybill Wealth Management LTD. acquired a new stake in Taiwan Semiconductor Manufacturing during the first quarter worth approximately $33,000. Finally, Glass Jacobson Investment Advisors llc boosted its position in Taiwan Semiconductor Manufacturing by 289.4% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company's stock worth $36,000 after acquiring an additional 136 shares during the last quarter. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Taiwan Semiconductor Manufacturing Price Performance

Shares of NYSE:TSM opened at $235.28 on Monday. The company has a quick ratio of 2.15, a current ratio of 2.37 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $222.20 and a 200 day simple moving average of $195.85. The company has a market cap of $1.22 trillion, a PE 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 fifty-two week low of $133.57 and a fifty-two week high of $248.28.

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, topping analysts' consensus estimates of $2.13 by $0.34. The company had revenue of $30.07 billion during the quarter, compared to analyst estimates of $28.50 billion. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 32.87%. The business's revenue for the quarter was up 44.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.48 EPS. On average, sell-side analysts anticipate 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. Investors of record on Tuesday, September 16th will be issued a dividend of $0.6499 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 28.16%.

Taiwan Semiconductor Manufacturing Company 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.

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