LGT Group Foundation Has $253.39 Million Holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• LGT Group Foundation increased its stake in Taiwan Semiconductor Manufacturing Company by 70.2%, now owning 1,526,445 shares valued at approximately $253.39 million.
• Several hedge funds, including DekaBank and Alpha Cubed Investments, have also recently adjusted their positions, indicating strong institutional interest in the semiconductor stock.
• Analysts have set a consensus price target of $258.33 for Taiwan Semiconductor, with Barclays and Needham & Company issuing upgraded price targets of $240.00 and $270.00, respectively.

LGT Group Foundation grew its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 70.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,526,445 shares of the semiconductor company's stock after purchasing an additional 629,524 shares during the quarter. Taiwan Semiconductor Manufacturing makes up approximately 3.5% of LGT Group Foundation's portfolio, making the stock its 7th biggest position. LGT Group Foundation's holdings in Taiwan Semiconductor Manufacturing were worth $253,390,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors lifted its stake in Taiwan Semiconductor Manufacturing by 0.8% in the fourth quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company's stock worth $7,031,632,000 after acquiring an additional 294,316 shares during the period. Capital International Investors raised its holdings in 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 worth $4,391,957,000 after purchasing an additional 1,683,256 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Taiwan Semiconductor Manufacturing by 55.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company's stock worth $2,872,814,000 after purchasing an additional 6,180,445 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 worth $2,047,065,000 after purchasing an additional 4,158,772 shares during the period. Finally, WCM Investment Management LLC boosted its stake in shares of Taiwan Semiconductor Manufacturing by 0.6% during the 1st quarter. WCM Investment Management LLC now owns 9,734,044 shares of the semiconductor company's stock valued at $1,608,551,000 after purchasing an additional 59,079 shares in the last quarter. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Up 0.8%

NYSE TSM traded up $1.90 during trading hours on Tuesday, reaching $243.99. 7,294,659 shares of the company's stock traded hands, 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 debt-to-equity ratio of 0.18, a current ratio of 2.37 and a quick ratio of 2.15. The firm has a 50-day simple moving average of $228.27 and a 200 day simple moving average of $197.00. The firm has a market cap of $1.27 trillion, a PE ratio of 27.82, a PEG ratio of 1.17 and a beta of 1.19.

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, beating the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 32.87%. The firm had revenue of $30.07 billion during the quarter, compared to analyst estimates of $28.50 billion. During the same period last year, the business earned $1.48 earnings per share. The business's revenue was up 44.4% on a year-over-year basis. Sell-side analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 28.16%.

Analyst Ratings Changes

A number of research firms recently issued reports on TSM. Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and set a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Susquehanna raised their target price on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the company a "positive" rating in a research note on Monday, July 14th. Finally, Barclays restated an "overweight" rating and set a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently 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.