Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Shares Sold by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. reduced its holdings in Taiwan Semiconductor Manufacturing Company (TSM) by 17.2%, now owning 239,277 shares valued at approximately $39.72 million.
• Analysts remain optimistic, with Barclays, Susquehanna, Needham & Company, and Citigroup all issuing buy ratings and target prices ranging from $240 to $270.
• Taiwan Semiconductor reported a 44.4% year-over-year revenue increase in its latest quarterly earnings, with earnings per share of $2.47, exceeding expectations significantly.

E Fund Management Co. Ltd. cut its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 17.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 239,277 shares of the semiconductor company's stock after selling 49,751 shares during the period. Taiwan Semiconductor Manufacturing comprises about 1.9% of E Fund Management Co. Ltd.'s investment portfolio, making the stock its 9th biggest holding. E Fund Management Co. Ltd.'s holdings in Taiwan Semiconductor Manufacturing were worth $39,720,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Accredited Wealth Management LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter valued at about $31,000. City Holding Co. grew its stake in Taiwan Semiconductor Manufacturing by 238.0% in the first 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. Signature Resources Capital Management LLC grew its stake in Taiwan Semiconductor Manufacturing by 138.8% in the first 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 in the first quarter worth about $33,000. Finally, Vision Financial Markets LLC acquired a new position in Taiwan Semiconductor Manufacturing in the first quarter worth about $33,000. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TSM shares. Barclays reiterated an "overweight" rating and issued a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Susquehanna raised their target price on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a report on Monday, July 14th. Needham & Company LLC reissued a "buy" rating and issued a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Finally, Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $258.33.

Taiwan Semiconductor Manufacturing Stock Performance

TSM opened at $243.99 on Wednesday. The business's 50 day moving average is $228.27 and its 200-day moving average is $197.00. The stock has a market cap of $1.27 trillion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The company has a current ratio of 2.37, a quick ratio of 2.15 and a debt-to-equity ratio of 0.18. Taiwan Semiconductor Manufacturing Company Ltd. has a twelve month low of $134.25 and a twelve month high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share 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 analysts' expectations of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The business's revenue for the quarter was up 44.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 earnings per share. On average, 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is 29.65%.

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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