Taiwan Semiconductor Manufacturing Company Ltd. $TSM Shares Sold by Balentine LLC

Key Points

• Balentine LLC cut its TSMC stake by 28.3% in the third quarter, selling 3,417 shares and retaining 8,664 shares valued at about $3.95 million.
• TSMC reported quarterly earnings of $4.60 per share, topping estimates of $4.45, while revenue rose 41.2% year over year to $46.72 billion.
• Analyst sentiment is mostly positive: the consensus rating is “Buy” with a $533.89 price target, though one firm downgraded the shares to “Hold.” TSMC also lowered its quarterly dividend to $1.0854 from $1.1136.

Balentine LLC trimmed its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 28.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,664 shares of the semiconductor company's stock after selling 3,417 shares during the period. Balentine LLC's holdings in Taiwan Semiconductor Manufacturing were worth $3,952,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TSM. Brookstone Capital Management boosted its stake in Taiwan Semiconductor Manufacturing by 87.3% in the second quarter. Brookstone Capital Management now owns 25,143 shares of the semiconductor company's stock worth $12,008,000 after purchasing an additional 11,719 shares in the last quarter. Opal Capital LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 72.5% in the first quarter. Opal Capital LLC now owns 27,767 shares of the semiconductor company's stock valued at $9,384,000 after buying an additional 11,666 shares in the last quarter. Western Wealth Management LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 27.4% in the first quarter. Western Wealth Management LLC now owns 27,954 shares of the semiconductor company's stock valued at $9,447,000 after buying an additional 6,013 shares in the last quarter. MRA Advisory Group acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the third quarter valued at $704,000. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of Taiwan Semiconductor Manufacturing in the third quarter valued at about $6,129,000. Institutional investors and hedge funds own 16.51% of the company's stock.

Insider Buying and Selling

In other news, VP Lipen Yuan acquired 1,000 shares of the company's stock in a transaction on Sunday, November 1st. The stock was purchased at an average cost of $71.49 per share, with a total value of $71,490.00. Following the acquisition, the vice president owned 8,000 shares of the company's stock, valued at $571,920. This trade represents a 14.29% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought 5,428 shares of company stock valued at $411,021 in the last three months. 1.11% of the stock is owned by company insiders.

Taiwan Semiconductor Manufacturing News Roundup

Here are the key news stories impacting Taiwan Semiconductor Manufacturing this week:

• Positive Sentiment: Taiwan tightened short-selling rules and prepared a reported $15 billion fund to support its markets, helping lift TSMC shares in premarket trading after the regional chip rout. Benzinga article
• Positive Sentiment: Nvidia reportedly wants TSMC to make advanced memory chips. If TSMC pursues the opportunity, it could broaden its role in AI hardware and deepen ties with a major customer; the report describes a possibility, not a confirmed project. TipRanks article
• Positive Sentiment: Sanford C. Bernstein raised its price target to $600 from $554 and reiterated an “outperform” rating, signaling confidence in TSMC’s prospects despite the recent sector weakness. MarketBeat analyst update
• Neutral Sentiment: TSMC’s position as a leading manufacturer for Nvidia, AMD and other chip designers supports exposure to AI demand across competing customers. Some coverage also argues the shares trade below their usual valuation range, though that does not ensure a near-term recovery. The Motley Fool article
• Negative Sentiment: The rebound follows a steep regional chip-stock selloff amid worries about AI valuations, spending expectations and growth. That market-wide pressure could keep TSM volatile even as its manufacturing business benefits from AI demand. 24/7 Wall St. article

Taiwan Semiconductor Manufacturing Stock Up 6.2%

Shares of TSM opened at $375.15 on Friday. The business's fifty day moving average price is $431.68 and its two-hundred day moving average price is $400.77. The firm has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 24.14, a PEG ratio of 0.76 and a beta of 1.44. Taiwan Semiconductor Manufacturing Company Ltd. has a 52 week low of $266.82 and a 52 week high of $487.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.25 and a current ratio of 2.46.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its earnings results on Thursday, October 15th. The semiconductor company reported $4.60 earnings per share for the quarter, topping analysts' consensus estimates of $4.45 by $0.15. Taiwan Semiconductor Manufacturing had a return on equity of 42.84% and a net margin of 51.51%. The company had revenue of $46.72 billion during the quarter, compared to the consensus estimate of $45.67 billion. During the same quarter in the previous year, the company posted $2.92 earnings per share. The firm's quarterly revenue was up 41.2% on a year-over-year basis. On average, analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 17.07 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Thursday, December 10th will be given a $1.0854 dividend. The ex-dividend date is Thursday, December 10th. This is a negative change from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $1.1136. This represents a $4.34 dividend on an annualized basis and a yield of 1.2%. Taiwan Semiconductor Manufacturing's dividend payout ratio is 22.07%.

Analyst Ratings Changes

Several research analysts recently issued reports on TSM shares. Sanford C. Bernstein upped their price target on shares of Taiwan Semiconductor Manufacturing from $554.00 to $600.00 and gave the stock an "outperform" rating in a research report on Wednesday. Needham & Company LLC raised their price objective on shares of Taiwan Semiconductor Manufacturing from $530.00 to $560.00 and gave the company a "buy" rating in a research report on Thursday, October 15th. Weiss Ratings cut shares of Taiwan Semiconductor Manufacturing from a "buy (b)" rating to a "hold (c+)" rating in a research report on Wednesday. Citigroup reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Wednesday, October 7th. Finally, Barclays upped their target price on shares of Taiwan Semiconductor Manufacturing from $665.00 to $670.00 and gave the stock an "overweight" rating in a research report on Friday, October 16th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $533.89.

Taiwan Semiconductor Manufacturing Profile

Taiwan Semiconductor Manufacturing Company (TSMC) is a semiconductor foundry that manufactures chips designed by other companies. It provides wafer fabrication and related services, including advanced packaging, serving customers across industries such as computing, communications, automotive and consumer electronics.

Founded in 1987 and headquartered in Hsinchu, Taiwan, TSMC helped establish the dedicated foundry model, in which a manufacturer focuses on producing semiconductors for customers rather than selling its own chip designs.

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