R Squared Ltd Buys 4,370 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• R Squared Ltd significantly increased its holdings in Taiwan Semiconductor Manufacturing Company (TSM) by 4,370.0% during the first quarter, now owning $742,000 worth of the stock.
• Taiwan Semiconductor posted earnings of $2.47 per share, exceeding estimates, with a revenue of $30.07 billion for the quarter, marking a 44.4% year-over-year increase.
• The company announced a quarterly dividend of $0.6499 per share, with a 1.1% yield, and a payout ratio of 28.16%.

R Squared Ltd boosted its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 4,370.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,470 shares of the semiconductor company's stock after acquiring an additional 4,370 shares during the quarter. Taiwan Semiconductor Manufacturing accounts for 0.8% of R Squared Ltd's portfolio, making the stock its 19th largest position. R Squared Ltd's holdings in Taiwan Semiconductor Manufacturing were worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Heartland Consultants Inc. increased its holdings in Taiwan Semiconductor Manufacturing by 4.2% during the 4th quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company's stock valued at $244,000 after purchasing an additional 50 shares in the last quarter. Formidable Asset Management LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company's stock worth $317,000 after purchasing an additional 50 shares during the last quarter. Connecticut Wealth Management LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 0.7% in the fourth quarter. Connecticut Wealth Management LLC now owns 7,416 shares of the semiconductor company's stock valued at $1,465,000 after buying an additional 55 shares in the last quarter. WealthCollab LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 6.7% in the fourth quarter. WealthCollab LLC now owns 891 shares of the semiconductor company's stock valued at $176,000 after buying an additional 56 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 1.1% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 5,455 shares of the semiconductor company's stock valued at $1,077,000 after buying an additional 59 shares during the last quarter. 16.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TSM shares. Barclays reissued an "overweight" rating and set a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. 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. Finally, Susquehanna boosted their price objective on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $258.33.

Taiwan Semiconductor Manufacturing Trading Down 2.6%

TSM stock traded down $6.34 during midday trading on Friday, reaching $235.28. The stock had a trading volume of 13,529,531 shares, compared to its average volume of 11,692,207. The firm has a market cap of $1.22 trillion, a price-to-earnings ratio of 26.83, a PEG ratio of 1.13 and a beta of 1.19. 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 quick ratio of 2.18, a current ratio of 2.37 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $222.20 and a two-hundred day simple moving average of $195.99.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.34. The company had revenue of $30.07 billion for 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 32.87%. The company's revenue for the quarter was up 44.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.48 EPS. As a group, research analysts expect 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 announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.6499 per share. 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 payout ratio is currently 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.