TCW Group Inc. Trims Stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• TCW Group Inc. reduced its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (TSM) by selling 4,134 shares, resulting in a total of 162,307 shares valued at approximately $26.94 million.
• The company's recent earnings report revealed an EPS of $2.47, exceeding analyst expectations, with a significant revenue increase of 44.4% year-over-year.
• Taiwan Semiconductor Manufacturing's quarterly dividend is set at $0.6499 per share, maintaining a dividend yield of 1.06% and a payout ratio of 28.16%.

TCW Group Inc. decreased its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,307 shares of the semiconductor company's stock after selling 4,134 shares during the quarter. TCW Group Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $26,943,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. DekaBank Deutsche Girozentrale increased its position in shares of Taiwan Semiconductor Manufacturing by 0.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,339,479 shares of the semiconductor company's stock valued at $214,442,000 after purchasing an additional 11,693 shares during the last quarter. Pinnacle Investment Management Ltd purchased a new position in Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $26,661,000. Sentry LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the 1st quarter worth about $222,000. Compound Global Advisors LLC boosted its position in shares of Taiwan Semiconductor Manufacturing by 31.2% in the first quarter. Compound Global Advisors LLC now owns 4,796 shares of the semiconductor company's stock worth $747,000 after acquiring an additional 1,141 shares during the last quarter. Finally, Polymer Capital Management HK LTD raised its holdings in Taiwan Semiconductor Manufacturing by 47.7% in the fourth quarter. Polymer Capital Management HK LTD now owns 86,493 shares of the semiconductor company's stock valued at $17,082,000 after buying an additional 27,938 shares during the period. Institutional investors and hedge funds own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM traded up $2.16 on Wednesday, reaching $243.49. 3,816,051 shares of the company's stock traded hands, compared to its average volume of 15,475,925. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22. The stock's 50 day simple moving average is $219.42 and its two-hundred day simple moving average is $195.23. Taiwan Semiconductor Manufacturing Company Ltd. has a 52-week low of $133.57 and a 52-week high of $248.28. The stock has a market cap of $1.26 trillion, a PE ratio of 27.78, a PEG ratio of 1.17 and a beta of 1.29.

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, beating the consensus estimate of $2.13 by $0.34. The company had revenue of $30.07 billion during the quarter, compared to analyst estimates of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 34.53% and a net margin of 42.91%. The firm's quarterly revenue was up 44.4% on a year-over-year basis. During the same quarter last year, the company earned $1.48 earnings per share. On average, analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.6499 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a yield of 1.07%. Taiwan Semiconductor Manufacturing's dividend payout ratio is presently 28.16%.

Analysts Set New Price Targets

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