Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Shares Sold by Azimuth Capital Investment Management LLC

Key Points

• Azimuth Capital Investment Management LLC reduced its stake in Taiwan Semiconductor Manufacturing Company by 23%, now holding 74,439 shares valued at approximately $12.36 million.
• Several institutional investors have significantly increased their holdings in Taiwan Semiconductor, with Goldman Sachs Group Inc. boosting its stake by 55.6% in the first quarter.
• Analysts maintain a consensus rating of "Moderate Buy" for Taiwan Semiconductor, with a current price target of $258.33 from multiple brokerage firms.

Azimuth Capital Investment Management LLC reduced its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 23.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,439 shares of the semiconductor company's stock after selling 22,204 shares during the period. Azimuth Capital Investment Management LLC's holdings in Taiwan Semiconductor Manufacturing were worth $12,357,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Capital World Investors boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 0.8% during the 4th quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company's stock worth $7,031,632,000 after purchasing an additional 294,316 shares during the last quarter. Capital International Investors boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 8.2% during the 4th quarter. Capital International Investors now owns 22,210,222 shares of the semiconductor company's stock worth $4,391,957,000 after purchasing an additional 1,683,256 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 55.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company's stock worth $2,872,814,000 after purchasing an additional 6,180,445 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 67.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock worth $2,047,065,000 after purchasing an additional 4,158,772 shares during the last quarter. Finally, WCM Investment Management LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 0.6% during the 1st quarter. WCM Investment Management LLC now owns 9,734,044 shares of the semiconductor company's stock worth $1,608,551,000 after purchasing an additional 59,079 shares during the last quarter. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TSM. Citigroup restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Susquehanna upped their price objective on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the company a "positive" rating in a report on Monday, July 14th. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Finally, Barclays reiterated an "overweight" rating and issued a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Taiwan Semiconductor Manufacturing presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.33.

Taiwan Semiconductor Manufacturing Trading Down 0.1%

TSM opened at $241.18 on Friday. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $134.25 and a one year high of $248.28. The stock has a market capitalization of $1.25 trillion, a PE ratio of 27.50, a P/E/G ratio of 1.16 and a beta of 1.19. The business's 50 day moving average price is $229.81 and its 200 day moving average price is $197.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.15 and a current ratio of 2.37.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The firm had revenue of $30.07 billion for the quarter, compared to analysts' expectations of $28.50 billion. During the same period in the prior year, the firm posted $1.48 earnings per share. The firm's quarterly revenue was up 44.4% on a year-over-year basis. As a group, equities research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

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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