Texas Yale Capital Corp. Decreases Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Texas Yale Capital Corp. reduced its stake in Taiwan Semiconductor Manufacturing Company Ltd. by 4.7%, selling 2,903 shares to hold a total of 59,497 shares valued at approximately $9.88 million.
• Recent research reports have led to updated price targets for Taiwan Semiconductor, with analysts at Needham & Company setting a new target of $270.00 on July 17th.
• Despite a quarterly earnings report exceeding analyst expectations, Taiwan Semiconductor announced a cut in dividend, declaring a quarterly dividend of $0.6499, resulting in a 1.06% yield.

Texas Yale Capital Corp. cut its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,497 shares of the semiconductor company's stock after selling 2,903 shares during the quarter. Texas Yale Capital Corp.'s holdings in Taiwan Semiconductor Manufacturing were worth $9,877,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC raised its holdings in Taiwan Semiconductor Manufacturing by 20.9% during the fourth quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company's stock valued at $2,159,000 after buying an additional 1,892 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth about $1,029,000. Financial Engines Advisors L.L.C. bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth about $218,000. NEOS Investment Management LLC grew its position in Taiwan Semiconductor Manufacturing by 22.9% during the fourth quarter. NEOS Investment Management LLC now owns 11,368 shares of the semiconductor company's stock worth $2,245,000 after buying an additional 2,117 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Taiwan Semiconductor Manufacturing by 5.6% in the 4th quarter. Blair William & Co. IL now owns 91,596 shares of the semiconductor company's stock valued at $18,089,000 after buying an additional 4,857 shares in the last quarter. Institutional investors and hedge funds own 16.51% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on TSM. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Susquehanna upped their price objective on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the company a "positive" rating in a research note on Monday, July 14th. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Finally, Barclays reiterated an "overweight" rating and issued a $240.00 price objective (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.33.

Taiwan Semiconductor Manufacturing Price Performance

Shares of NYSE TSM traded down $2.89 during trading hours on Monday, hitting $242.71. 11,872,179 shares of the stock were exchanged, compared to its average volume of 11,564,402. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.18 and a current ratio of 2.39. The company has a market cap of $1.26 trillion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.18 and a beta of 1.29. The company's fifty day simple moving average is $217.47 and its two-hundred day simple moving average is $194.66. Taiwan Semiconductor Manufacturing Company Ltd. has a 1-year low of $133.57 and a 1-year high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 34.53%. The company had revenue of $30.07 billion for the quarter, compared to analyst estimates of $28.50 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. Taiwan Semiconductor Manufacturing's revenue was up 44.4% compared to the same quarter last year. On average, sell-side analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

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

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.