Headlands Technologies LLC Acquires 46,507 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Headlands Technologies LLC increased its holdings in Taiwan Semiconductor Manufacturing Company Ltd. by 624.7%, acquiring an additional 46,507 shares, bringing their total to 53,952 shares valued at approximately $8,956,000.
• Taiwan Semiconductor Manufacturing recently reported a 44.4% year-over-year revenue increase to $30.07 billion and beat earnings expectations with $2.47 EPS for the last quarter.
• Despite a solid performance, the company has cut its dividend to $0.6499 per share, representing an annualized yield of 1.1% with a payout ratio of 29.65%.

Headlands Technologies LLC increased its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 624.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,952 shares of the semiconductor company's stock after purchasing an additional 46,507 shares during the quarter. Taiwan Semiconductor Manufacturing makes up approximately 1.0% of Headlands Technologies LLC's holdings, making the stock its 17th largest holding. Headlands Technologies LLC's holdings in Taiwan Semiconductor Manufacturing were worth $8,956,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. University of Illinois Foundation purchased a new position in Taiwan Semiconductor Manufacturing during the 1st quarter valued at $7,614,000. 1834 Investment Advisors Co. boosted its stake in shares of Taiwan Semiconductor Manufacturing by 3.6% during the 1st quarter. 1834 Investment Advisors Co. now owns 3,024 shares of the semiconductor company's stock valued at $502,000 after purchasing an additional 104 shares in the last quarter. Altfest L J & Co. Inc. increased its position in shares of Taiwan Semiconductor Manufacturing by 24.6% during the first quarter. Altfest L J & Co. Inc. now owns 22,543 shares of the semiconductor company's stock valued at $3,742,000 after buying an additional 4,447 shares during the period. Foster Dykema Cabot & Partners LLC raised its stake in Taiwan Semiconductor Manufacturing by 79.1% in the first quarter. Foster Dykema Cabot & Partners LLC now owns 351 shares of the semiconductor company's stock worth $59,000 after buying an additional 155 shares in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 4.6% in the first quarter. Chicago Partners Investment Group LLC now owns 3,461 shares of the semiconductor company's stock worth $604,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 16.51% of the company's stock.

Analyst Upgrades and Downgrades

TSM has been the subject of several research reports. Needham & Company LLC reissued a "buy" rating and issued a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Susquehanna upped 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. Finally, Barclays reissued an "overweight" rating and set a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $258.33.

Taiwan Semiconductor Manufacturing Stock Up 4.7%

NYSE:TSM traded up $10.90 during trading hours on Thursday, reaching $242.27. 17,663,962 shares of the company traded hands, compared to its average volume of 12,151,170. The company has a current ratio of 2.37, a quick ratio of 2.15 and a debt-to-equity ratio of 0.18. The business's 50-day moving average price is $225.43 and its two-hundred day moving average price is $196.75. Taiwan Semiconductor Manufacturing Company Ltd. has a 1 year low of $134.25 and a 1 year high of $248.28. The stock has a market capitalization of $1.26 trillion, a P/E ratio of 27.63, a P/E/G ratio of 1.12 and a beta of 1.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 32.87% and a net margin of 42.91%. Taiwan Semiconductor Manufacturing's quarterly revenue was up 44.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 EPS. Analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be paid a $0.6499 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date 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.