Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Shares Sold by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP decreased its stake in Taiwan Semiconductor Manufacturing Company by 18.5%, owning 655,367 shares worth approximately $108.8 million after selling 148,319 shares.
• The company reported $2.47 EPS in its latest quarterly earnings, exceeding consensus estimates, and achieved revenue of $30.07 billion, representing a 44.4% year-over-year increase.
• Analysts have adjusted price targets for Taiwan Semiconductor, with Susquehanna raising theirs to $265.00 and Needham & Company maintaining a target of $270.00, reflecting an overall positive outlook.

Westfield Capital Management Co. LP lowered its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 18.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 655,367 shares of the semiconductor company's stock after selling 148,319 shares during the quarter. Westfield Capital Management Co. LP's holdings in Taiwan Semiconductor Manufacturing were worth $108,791,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Accredited Wealth Management LLC acquired a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter worth about $31,000. City Holding Co. boosted its position 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. Glass Jacobson Investment Advisors llc boosted its position in Taiwan Semiconductor Manufacturing by 289.4% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company's stock worth $36,000 after acquiring an additional 136 shares during the period. Signature Resources Capital Management LLC boosted its position 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. Finally, Graybill Wealth Management LTD. acquired a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Down 2.6%

TSM opened at $235.28 on Monday. The business has a 50 day moving average price of $222.20 and a 200 day moving average price of $195.85. Taiwan Semiconductor Manufacturing Company Ltd. has a twelve month low of $133.57 and a twelve month high of $248.28. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.15 and a current ratio of 2.37. The firm has a market cap of $1.22 trillion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 1.13 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 EPS for the quarter, topping the consensus estimate of $2.13 by $0.34. The company had revenue of $30.07 billion for the quarter, compared to the consensus estimate of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The company's revenue for the quarter was up 44.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 EPS. Research analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be paid a $0.6499 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is presently 28.16%.

Analysts Set New Price Targets

A number of equities research analysts have commented on TSM shares. Susquehanna raised their price objective on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research report on Monday, July 14th. Needham & Company LLC reiterated a "buy" rating and set a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Barclays reiterated an "overweight" rating and set a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Finally, Citigroup reiterated 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's stock. According to MarketBeat, the stock 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.