Taiwan Semiconductor Manufacturing Company Ltd. $TSM Holdings Trimmed by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its position in Taiwan Semiconductor Manufacturing by 6.4%, holding 920,654 shares valued at approximately $208.5 million after selling 62,991 shares in the second quarter.
• Multiple institutional investors have recently increased their stakes in Taiwan Semiconductor, with New Vernon Capital Holdings increasing its stake by 16,500% and Goldman Sachs boosting theirs by 55.6%.
• Analysts have set a new average price target for Taiwan Semiconductor shares at $333.33, with a majority rating the stock as a "strong buy."

Allianz Asset Management GmbH cut its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 6.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 920,654 shares of the semiconductor company's stock after selling 62,991 shares during the quarter. Allianz Asset Management GmbH's holdings in Taiwan Semiconductor Manufacturing were worth $208,519,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in TSM. New Vernon Capital Holdings II LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 16,500.0% in the 1st quarter. New Vernon Capital Holdings II LLC now owns 6,707,064 shares of the semiconductor company's stock valued at $1,113,373,000 after purchasing an additional 6,666,660 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Taiwan Semiconductor Manufacturing by 55.6% in the first quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company's stock valued at $2,872,814,000 after buying an additional 6,180,445 shares during the last quarter. Nuveen LLC bought a new position in Taiwan Semiconductor Manufacturing during the 1st quarter worth $482,676,000. Jennison Associates LLC lifted its position in Taiwan Semiconductor Manufacturing by 36.8% during the first quarter. Jennison Associates LLC now owns 9,509,032 shares of the semiconductor company's stock worth $1,578,499,000 after purchasing an additional 2,559,512 shares during the period. Finally, Alliancebernstein L.P. grew its position in Taiwan Semiconductor Manufacturing by 31.5% in the first quarter. Alliancebernstein L.P. now owns 8,864,014 shares of the semiconductor company's stock valued at $1,471,426,000 after acquiring an additional 2,121,758 shares during the last quarter. 16.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TSM shares. Barclays lifted their price objective on shares of Taiwan Semiconductor Manufacturing from $325.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, October 9th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Taiwan Semiconductor Manufacturing in a report on Wednesday, October 8th. Wall Street Zen raised shares of Taiwan Semiconductor Manufacturing from a "hold" rating to a "buy" rating in a research report on Sunday, August 31st. Itau BBA Securities assumed coverage on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, October 7th. They set an "outperform" rating for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $333.33.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM opened at $305.48 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.15 and a current ratio of 2.37. The firm has a 50-day simple moving average of $259.95 and a 200-day simple moving average of $219.85. Taiwan Semiconductor Manufacturing Company Ltd. has a fifty-two week low of $134.25 and a fifty-two week high of $307.30. The company has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 1.41 and a beta of 1.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a return on equity of 33.37% and a net margin of 42.91%.The business had revenue of $30.07 billion for the quarter, compared to analysts' expectations of $28.50 billion. During the same quarter last year, the firm earned $1.48 earnings per share. The business's revenue was up 44.4% on a year-over-year basis. On average, equities research analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 11th will be paid a $0.8348 dividend. The ex-dividend date of this dividend is Thursday, December 11th. This represents a $3.34 annualized dividend and a dividend yield of 1.1%. This is an increase from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.65. Taiwan Semiconductor Manufacturing's dividend payout ratio is presently 29.99%.

Taiwan Semiconductor Manufacturing 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.

Want to see what other hedge funds are holding TSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report).

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.