Banque Pictet & Cie SA Sells 35,140 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Banque Pictet & Cie SA lowered its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 5.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 600,016 shares of the semiconductor company's stock after selling 35,140 shares during the period. Taiwan Semiconductor Manufacturing accounts for 0.8% of Banque Pictet & Cie SA's portfolio, making the stock its 18th largest holding. Banque Pictet & Cie SA's holdings in Taiwan Semiconductor Manufacturing were worth $99,603,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new position in Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $26,000. Hopwood Financial Services Inc. acquired a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter worth $27,000. City Holding Co. grew its holdings 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 acquiring an additional 119 shares during the period. Accredited Wealth Management LLC acquired a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter worth $31,000. Finally, Signature Resources Capital Management LLC grew its holdings 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 acquiring an additional 111 shares during the period. Institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM stock traded up $3.99 during trading hours on Wednesday, reaching $231.85. The company's stock had a trading volume of 9,455,497 shares, compared to its average volume of 15,381,273. The company has a quick ratio of 2.18, a current ratio of 2.39 and a debt-to-equity ratio of 0.22. Taiwan Semiconductor Manufacturing Company Ltd. has a fifty-two week low of $133.57 and a fifty-two week high of $237.58. The company has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 29.80, a PEG ratio of 1.19 and a beta of 1.29. The firm's 50 day simple moving average is $202.98 and its 200-day simple moving average is $191.89.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. The firm had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. Sell-side analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share 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. Stockholders of record on Tuesday, September 16th will be given a $0.6499 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 33.42%.

Analysts Set New Price Targets

A number of research firms have commented on TSM. Needham & Company LLC lifted their target price on shares of Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Susquehanna boosted their target price on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a "positive" rating in a research note on Tuesday, June 17th. Finally, Barclays reaffirmed an "overweight" rating and set a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.75.

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.