Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Shares Sold by Nikko Asset Management Americas Inc.

Key Points

• Nikko Asset Management Americas Inc. reduced its stake in Taiwan Semiconductor Manufacturing Company Ltd. by 5.8%, owning 199,500 shares valued at approximately $33 million after the sale.
• The company reported a substantial earnings per share (EPS) of $2.47 for the last quarter, surpassing analysts' estimates, with revenues of $30.07 billion.
• Several analysts have updated their price targets for Taiwan Semiconductor, with the average target now at $258.33, reflecting a generally positive outlook on the stock.

Nikko Asset Management Americas Inc. trimmed its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 199,500 shares of the semiconductor company's stock after selling 12,251 shares during the period. Nikko Asset Management Americas Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $33,107,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 4.6% in the 4th quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock valued at $11,562,498,000 after purchasing an additional 2,572,488 shares during the period. Sanders Capital LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 0.6% in the 4th quarter. Sanders Capital LLC now owns 41,877,457 shares of the semiconductor company's stock valued at $8,270,379,000 after purchasing an additional 231,310 shares during the period. Capital World Investors lifted its stake in shares of Taiwan Semiconductor Manufacturing by 0.8% in the 4th quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company's stock valued at $7,031,632,000 after purchasing an additional 294,316 shares during the period. Capital International Investors lifted its stake in shares of Taiwan Semiconductor Manufacturing by 8.2% in the 4th quarter. Capital International Investors now owns 22,210,222 shares of the semiconductor company's stock valued at $4,391,957,000 after purchasing an additional 1,683,256 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Taiwan Semiconductor Manufacturing by 67.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock valued at $2,047,065,000 after purchasing an additional 4,158,772 shares during the period. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Price Performance

Taiwan Semiconductor Manufacturing stock opened at $245.55 on Friday. Taiwan Semiconductor Manufacturing Company Ltd. has a 52-week low of $133.57 and a 52-week high of $248.28. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 28.00, a PEG ratio of 1.16 and a beta of 1.29. The company has a fifty day simple moving average of $217.47 and a 200-day simple moving average of $194.84. 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 (NYSE:TSM - Get Free Report) last released its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 34.53%. The business had revenue of $30.07 billion during the quarter, compared to analyst estimates of $28.50 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. The company's revenue for the quarter was up 44.4% compared to the same quarter last year. On average, equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be issued a $0.6499 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 28.16%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Susquehanna boosted their price target 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 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Barclays reissued an "overweight" rating and issued a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Finally, Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $258.33.

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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