TD Asset Management Inc Reduces Holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• TD Asset Management Inc reduced its stake in Taiwan Semiconductor Manufacturing Company Ltd. by 11.0%, owning 515,129 shares after selling 63,838 shares, valued at $85,511,000.
• Several large investors, including Brighton Jones LLC and KLP Kapitalforvaltning AS, have increased their stakes in Taiwan Semiconductor, contributing to 16.51% of the stock's ownership by institutional investors.
• Analysts maintain a consensus rating of "Moderate Buy" for Taiwan Semiconductor, with several reporting price targets ranging from $240.00 to $270.00 on the stock.

TD Asset Management Inc reduced its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 11.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 515,129 shares of the semiconductor company's stock after selling 63,838 shares during the quarter. TD Asset Management Inc's holdings in Taiwan Semiconductor Manufacturing were worth $85,511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TSM. DekaBank Deutsche Girozentrale boosted its stake in shares of Taiwan Semiconductor Manufacturing by 0.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,339,479 shares of the semiconductor company's stock worth $214,442,000 after purchasing an additional 11,693 shares during the last quarter. Pinnacle Investment Management Ltd acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth 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 stake in shares of Taiwan Semiconductor Manufacturing by 31.2% during the 1st quarter. Compound Global Advisors LLC now owns 4,796 shares of the semiconductor company's stock worth $747,000 after purchasing an additional 1,141 shares during the last quarter. Finally, Polymer Capital Management HK LTD boosted its stake in shares of Taiwan Semiconductor Manufacturing by 47.7% during the 4th quarter. Polymer Capital Management HK LTD now owns 86,493 shares of the semiconductor company's stock worth $17,082,000 after purchasing an additional 27,938 shares during the last quarter. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. 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. Barclays reissued an "overweight" rating and issued a $240.00 target price (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Susquehanna raised their target price on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research report on Monday, July 14th. Finally, Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $258.33.

Taiwan Semiconductor Manufacturing Trading Up 0.0%

TSM traded up $0.05 during trading on Thursday, hitting $242.96. 6,803,060 shares of the company's stock were exchanged, compared to its average volume of 15,434,382. The company has a current ratio of 2.37, a quick ratio of 2.18 and a debt-to-equity ratio of 0.18. Taiwan Semiconductor Manufacturing Company Ltd. has a 1 year low of $133.57 and a 1 year high of $248.28. The stock has a 50 day moving average price of $220.43 and a 200 day moving average price of $195.55. The firm has a market cap of $1.26 trillion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 1.16 and a beta of 1.29.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released 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 net margin of 42.91% and a return on equity of 32.87%. The company had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. Taiwan Semiconductor Manufacturing's revenue for the quarter was up 44.4% on a year-over-year basis. As a group, analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.6499 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.07%. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 29.65%.

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.