Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Shares Sold by Horizon Investments LLC

Key Points

• Horizon Investments LLC has reduced its stake in Taiwan Semiconductor Manufacturing Company by 15.2%, selling 3,744 shares and leaving it with 20,808 shares valued at approximately $3.45 million.
• Goldman Sachs Group significantly increased its holdings by 55.6%, acquiring over 6 million additional shares, bringing its total to 17.3 million shares worth nearly $2.87 billion.
• Taiwan Semiconductor Manufacturing reported a quarterly earnings per share of $2.47, surpassing analyst expectations and marking a 44.4% increase in revenue year-over-year to $30.07 billion.

Horizon Investments LLC decreased its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 15.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,808 shares of the semiconductor company's stock after selling 3,744 shares during the quarter. Horizon Investments LLC's holdings in Taiwan Semiconductor Manufacturing were worth $3,454,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in Taiwan Semiconductor Manufacturing by 55.6% during the first quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company's stock worth $2,872,814,000 after buying an additional 6,180,445 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Taiwan Semiconductor Manufacturing by 67.0% during the fourth 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 acquiring an additional 4,158,772 shares during the period. Nuveen LLC acquired a new position in Taiwan Semiconductor Manufacturing during the first quarter worth $482,676,000. Jennison Associates LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 36.8% in the first quarter. Jennison Associates LLC now owns 9,509,032 shares of the semiconductor company's stock valued at $1,578,499,000 after buying an additional 2,559,512 shares during the last quarter. Finally, Sarasin & Partners LLP acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the first quarter valued at about $362,773,000. 16.51% of the stock is owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Price Performance

Shares of NYSE TSM opened at $238.97 on Friday. Taiwan Semiconductor Manufacturing Company Ltd. has a fifty-two week low of $134.25 and a fifty-two week high of $248.28. The firm's 50-day simple moving average is $230.48 and its 200 day simple moving average is $197.90. The company has a quick ratio of 2.15, a current ratio of 2.37 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.24 trillion, a P/E ratio of 27.25, a P/E/G ratio of 1.17 and a beta of 1.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.34. The firm 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%. Taiwan Semiconductor Manufacturing's revenue was up 44.4% on a year-over-year basis. During the same quarter last year, the business posted $1.48 EPS. Equities analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Analyst Ratings Changes

TSM has been the subject of a number of recent research reports. Susquehanna increased their target price 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. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Barclays reiterated an "overweight" rating and issued a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. 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 data from MarketBeat.com, Taiwan Semiconductor Manufacturing currently has a consensus rating of "Moderate Buy" and an average price target of $258.33.

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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