Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Shares Bought by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC increased its stake in Taiwan Semiconductor Manufacturing Company (NYSE: TSM) by 4.0%, now owning 226,048 shares valued at approximately $37.5 million.
• Analysts are optimistic about TSM, with a consensus rating of "Moderate Buy" and an average price target of $258.33, reflecting strong performance in recent quarters.
• The company announced a quarterly dividend of $0.6499 per share, representing an annualized yield of 1.06%, affecting a payout ratio of 28.16%.

ARK Investment Management LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 4.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 226,048 shares of the semiconductor company's stock after purchasing an additional 8,715 shares during the period. ARK Investment Management LLC's holdings in Taiwan Semiconductor Manufacturing were worth $37,524,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allen Investment Management LLC lifted its stake in Taiwan Semiconductor Manufacturing by 40.1% in the first quarter. Allen Investment Management LLC now owns 129,762 shares of the semiconductor company's stock valued at $21,540,000 after buying an additional 37,139 shares during the last quarter. HB Wealth Management LLC lifted its stake in Taiwan Semiconductor Manufacturing by 46.4% in the first quarter. HB Wealth Management LLC now owns 36,059 shares of the semiconductor company's stock valued at $5,986,000 after buying an additional 11,422 shares during the last quarter. First Heartland Consultants Inc. lifted its stake in Taiwan Semiconductor Manufacturing by 33.3% in the first quarter. First Heartland Consultants Inc. now owns 1,647 shares of the semiconductor company's stock valued at $273,000 after buying an additional 411 shares during the last quarter. Stevens Capital Management LP bought a new stake in Taiwan Semiconductor Manufacturing in the first quarter valued at $3,633,000. Finally, Prescott Group Capital Management L.L.C. bought a new stake in Taiwan Semiconductor Manufacturing in the first quarter valued at $1,089,000. 16.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TSM has been the topic of a number of recent research reports. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Susquehanna set a $265.00 target price on Taiwan Semiconductor Manufacturing and gave the company a "positive" rating in a research note on Monday, July 14th. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Finally, Barclays reissued 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $258.33.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM opened at $245.55 on Friday. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 1.16 and a beta of 1.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.18 and a current ratio of 2.39. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $133.57 and a one year high of $248.28. The stock's fifty day moving average is $217.47 and its 200-day moving average is $194.84.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.13 by $0.34. The company had revenue of $30.07 billion for 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 quarterly revenue was up 44.4% compared to the same quarter last year. During the same period last year, the company earned $1.48 earnings per share. Equities 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 announced 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 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is currently 28.16%.

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.

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