Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Position Cut by Todd Asset Management LLC

Key Points

• Todd Asset Management LLC reduced its stake in Taiwan Semiconductor Manufacturing Company by 2.2%, selling 4,302 shares, leaving them with 195,225 shares valued at approximately $32.4 million.
• Several hedge funds have increased their holdings in the company, with Goldman Sachs Group Inc. leading the way by acquiring an additional 55.6% in shares during the first quarter.
• Analysts have provided optimistic ratings and price targets for the stock, with Barclays raising its price target to $240.00 and Needham & Company setting a target at $270.00, reflecting a consensus of a "Moderate Buy" rating.

Todd Asset Management LLC reduced its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 195,225 shares of the semiconductor company's stock after selling 4,302 shares during the quarter. Todd Asset Management LLC's holdings in Taiwan Semiconductor Manufacturing were worth $32,407,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Engines Advisors L.L.C. increased its holdings in Taiwan Semiconductor Manufacturing by 27.2% in the first quarter. Financial Engines Advisors L.L.C. now owns 1,404 shares of the semiconductor company's stock valued at $233,000 after buying an additional 300 shares during the last quarter. Cypress Capital Group increased its holdings in Taiwan Semiconductor Manufacturing by 3.2% in the first quarter. Cypress Capital Group now owns 27,344 shares of the semiconductor company's stock valued at $4,539,000 after buying an additional 849 shares during the last quarter. WP Advisors LLC increased its holdings in Taiwan Semiconductor Manufacturing by 5.5% in the first quarter. WP Advisors LLC now owns 4,507 shares of the semiconductor company's stock valued at $748,000 after buying an additional 236 shares during the last quarter. Maia Wealth LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 4.9% during the first quarter. Maia Wealth LLC now owns 22,061 shares of the semiconductor company's stock valued at $3,438,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Independent Advisor Alliance grew its holdings in shares of Taiwan Semiconductor Manufacturing by 3.8% during the first quarter. Independent Advisor Alliance now owns 27,814 shares of the semiconductor company's stock valued at $4,617,000 after purchasing an additional 1,021 shares during the last quarter. 16.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Taiwan Semiconductor Manufacturing Stock Performance

TSM stock traded up $1.90 on Tuesday, reaching $243.99. The company's stock had a trading volume of 7,294,659 shares, compared to its average volume of 12,346,192. Taiwan Semiconductor Manufacturing Company Ltd. has a 52 week low of $134.25 and a 52 week high of $248.28. The company has a market capitalization of $1.27 trillion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The firm has a fifty day moving average of $228.27 and a two-hundred day moving average of $197.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.37 and a quick ratio of 2.15.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly earnings data 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 return on equity of 32.87% and a net margin of 42.91%. The business had revenue of $30.07 billion during the quarter, compared to analyst estimates of $28.50 billion. During the same period in the prior year, the company posted $1.48 EPS. The business's revenue for the quarter was up 44.4% compared to the same quarter last year. As a group, analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm 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 yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is 28.16%.

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.