Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Shares Bought by IQ EQ FUND MANAGEMENT IRELAND Ltd

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Taiwan Semiconductor Manufacturing Company, owning 145,518 shares, representing 2.8% of its portfolio, valued at approximately $24.16 million.
• Analysts have set a consensus target price of $258.33 for Taiwan Semiconductor, with several firms reiterating "buy" ratings, indicating strong investor confidence.
• The semiconductor company reported earnings per share (EPS) of $2.47 for the last quarter, exceeding expectations by $0.34, with revenues of $30.07 billion surpassing estimates by $1.57 billion.

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 1.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,518 shares of the semiconductor company's stock after buying an additional 1,879 shares during the quarter. Taiwan Semiconductor Manufacturing accounts for about 2.8% of IQ EQ FUND MANAGEMENT IRELAND Ltd's portfolio, making the stock its 2nd largest holding. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Taiwan Semiconductor Manufacturing were worth $24,156,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. City Holding Co. increased its position in Taiwan Semiconductor Manufacturing by 238.0% during the 1st quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 119 shares in the last quarter. Accredited Wealth Management LLC acquired a new position in Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $31,000. Signature Resources Capital Management LLC increased its position in Taiwan Semiconductor Manufacturing by 138.8% during the 1st quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 111 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in Taiwan Semiconductor Manufacturing during the 1st quarter worth approximately $33,000. Finally, Glass Jacobson Investment Advisors llc increased its position in Taiwan Semiconductor Manufacturing by 289.4% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 136 shares in the last quarter. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on TSM. Needham & Company LLC restated a "buy" rating and issued a $270.00 price target 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 research report on Thursday, May 22nd. Barclays restated an "overweight" rating and issued a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Finally, Susquehanna upped their price target on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 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 company's stock. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing currently has an average rating of "Moderate Buy" and a consensus target price of $258.33.

Taiwan Semiconductor Manufacturing Stock Down 2.6%

Shares of Taiwan Semiconductor Manufacturing stock opened at $235.28 on Monday. 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 company's fifty day simple moving average is $222.20 and its two-hundred day simple moving average is $195.85. The company has a market cap of $1.22 trillion, a P/E ratio of 26.83, a PEG ratio of 1.13 and a beta of 1.19. 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 issued its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.34. The business had revenue of $30.07 billion for the quarter, compared to the consensus estimate of $28.50 billion. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 32.87%. The company's quarterly revenue was up 44.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.48 EPS. Research analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.6499 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a yield of 1.1%. Taiwan Semiconductor Manufacturing's payout ratio is presently 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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