Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Shares Sold by Zweig DiMenna Associates LLC

Key Points

• Zweig DiMenna Associates LLC significantly reduced its holdings in Taiwan Semiconductor Manufacturing Company by 39.0% during Q1, selling 46,742 shares and now holding 73,135 shares.
• The company reported earnings of $2.47 per share for the last quarter, exceeding analyst expectations of $2.13, and posted revenue of $30.07 billion, surpassing the forecast of $28.50 billion.
• Taiwan Semiconductor Manufacturing announced a quarterly dividend of $0.6499, representing an annual yield of 1.08%, effective for stockholders of record on September 16th.

Zweig DiMenna Associates LLC lessened its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 39.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,135 shares of the semiconductor company's stock after selling 46,742 shares during the quarter. Taiwan Semiconductor Manufacturing comprises 1.9% of Zweig DiMenna Associates LLC's investment portfolio, making the stock its 19th biggest holding. Zweig DiMenna Associates LLC's holdings in Taiwan Semiconductor Manufacturing were worth $12,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in 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. FMR LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 4.6% in the fourth quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company's stock valued at $11,562,498,000 after acquiring an additional 2,572,488 shares during the period. Jennison Associates LLC increased 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 acquiring an additional 2,559,512 shares during the period. Sarasin & Partners LLP purchased a new position in shares of Taiwan Semiconductor Manufacturing in the first quarter valued at about $362,773,000. Finally, Franklin Resources Inc. increased its position in shares of Taiwan Semiconductor Manufacturing by 32.3% during the fourth quarter. Franklin Resources Inc. now owns 8,498,063 shares of the semiconductor company's stock valued at $1,678,283,000 after buying an additional 2,074,329 shares during the period. Institutional investors and hedge funds own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Trading Down 1.3%

TSM traded down $3.13 on Monday, reaching $242.47. 7,018,332 shares of the company traded hands, compared to its average volume of 15,566,625. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $133.57 and a one year high of $248.28. The firm has a fifty day simple moving average of $217.47 and a two-hundred day simple moving average of $194.66. The company has a market cap of $1.26 trillion, a P/E ratio of 27.63, a price-to-earnings-growth ratio of 1.18 and a beta of 1.29. 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 posted its quarterly earnings data 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 firm had revenue of $30.07 billion during the quarter, compared to analyst estimates of $28.50 billion. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 34.53%. Taiwan Semiconductor Manufacturing's revenue was up 44.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.48 EPS. As a group, equities research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share 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 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 29.65%.

Wall Street Analyst Weigh In

TSM has been the topic of a number of recent research reports. Barclays restated an "overweight" rating and issued a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Susquehanna increased their price objective 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 restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.