Taiwan Semiconductor Manufacturing Company Ltd. $TSM Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its TSMC stake by 46.7% in the third quarter, selling 157,610 shares; it retained 179,552 shares valued at about $81.9 million.
• TSMC beat quarterly earnings and revenue expectations, reporting $4.60 per share and $46.72 billion in revenue. Revenue rose 41.2% year over year.
• Insiders bought 6,268 shares worth about $710,901 over the past 90 days. Analysts’ consensus rating was “Buy,” with an average price target of $533.89.

Pictet Asset Management Holding SA lessened its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 46.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 179,552 shares of the semiconductor company's stock after selling 157,610 shares during the period. Pictet Asset Management Holding SA's holdings in Taiwan Semiconductor Manufacturing were worth $81,910,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Palisade Asset Management LLC purchased a new position in Taiwan Semiconductor Manufacturing during the 3rd quarter valued at about $200,000. Verus Capital Partners LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 0.6% in the 3rd quarter. Verus Capital Partners LLC now owns 14,943 shares of the semiconductor company's stock worth $6,817,000 after buying an additional 89 shares during the last quarter. Investment Management Corp VA ADV grew its position in shares of Taiwan Semiconductor Manufacturing by 1.8% in the 3rd quarter. Investment Management Corp VA ADV now owns 1,695 shares of the semiconductor company's stock worth $773,000 after buying an additional 30 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 0.5% in the 3rd quarter. Parallel Advisors LLC now owns 52,626 shares of the semiconductor company's stock worth $24,008,000 after buying an additional 277 shares during the last quarter. Finally, Flagship Wealth Advisors LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing during the third quarter valued at approximately $125,000. Hedge funds and other institutional investors own 16.51% of the company's stock.

Insider Activity at Taiwan Semiconductor Manufacturing

In other news, Director Michael R. Splinter acquired 840 shares of the firm's stock in a transaction on Thursday, November 5th. The stock was acquired at an average price of $357.00 per share, for a total transaction of $299,880.00. Following the completion of the acquisition, the director owned 8,405 shares in the company, valued at $3,000,585. This trade represents a 11.10% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Lipen Yuan acquired 1,000 shares of the stock in a transaction on Sunday, November 1st. The shares were purchased at an average cost of $71.49 per share, with a total value of $71,490.00. Following the transaction, the vice president directly owned 8,000 shares of the company's stock, valued at approximately $571,920. This trade represents a 14.29% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 6,268 shares of company stock worth $710,901 over the last 90 days. 1.11% of the stock is currently owned by corporate insiders.

Taiwan Semiconductor Manufacturing Stock Performance

Taiwan Semiconductor Manufacturing stock opened at $388.95 on Tuesday. The stock's 50 day simple moving average is $431.09 and its two-hundred day simple moving average is $401.08. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.25 and a current ratio of 2.46. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.03, a PEG ratio of 0.80 and a beta of 1.44. Taiwan Semiconductor Manufacturing Company Ltd. has a fifty-two week low of $266.82 and a fifty-two week high of $487.47.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted 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 firm had revenue of $46.72 billion for the quarter, compared to the consensus estimate of $45.67 billion. During the same quarter in the prior year, the business earned $2.92 EPS. The business's revenue for the quarter was up 41.2% on a year-over-year basis. As a group, analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 17.07 earnings per share for the current fiscal year.

More Taiwan Semiconductor Manufacturing News

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

• Positive Sentiment: Taiwanese regulators tightened short-selling limits and authorized a NT$500 billion stabilization fund. The measures helped lift local-market sentiment and supported TSMC shares. TSMC Stocks Rise as Taiwan Curbs Short Selling and Deploys Stabilization Fund
• Positive Sentiment: A director disclosed buying 840 shares for about $300,000, increasing his direct holdings by 11.1%. Insider purchases can be viewed as a signal of confidence, although one transaction does not establish a broader trend. SEC filing on director share purchase
• Positive Sentiment: Eleven ETFs reportedly added TSMC shares, suggesting investment-fund demand that may provide some support. 11 ETFs Add to Taiwan Semiconductor
• Neutral Sentiment: Coverage was inconsistent about TSMC entering advanced memory production: one report suggested it may make memory for NVIDIA, while another said TSMC remains focused on logic chips. The uncertainty may affect expectations for future competition, but the reports do not establish a confirmed change in strategy. Report on possible advanced memory production

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wall Street Zen downgraded Taiwan Semiconductor Manufacturing from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Zacks Research upgraded shares of Taiwan Semiconductor Manufacturing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. Stifel Nicolaus initiated coverage on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, September 1st. They set a "buy" rating and a $515.00 price objective on the stock. TD Cowen upped their price objective on shares of Taiwan Semiconductor Manufacturing from $400.00 to $440.00 and gave the stock a "hold" rating in a report on Friday, July 17th. Finally, Weiss Ratings cut shares of Taiwan Semiconductor Manufacturing from a "buy (b)" rating to a "hold (c+)" rating in a research report on Wednesday, November 4th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Taiwan Semiconductor Manufacturing has a consensus rating of "Buy" and an average target price of $533.89.

Taiwan Semiconductor Manufacturing Company 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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