The Manufacturers Life Insurance Company Has $810.01 Million Stake in Taiwan Semiconductor Manufacturing Company Ltd. $TSM

Key Points

• The Manufacturers Life Insurance Company trimmed its TSMC stake by 2.1% in the first quarter, selling 50,738 shares while retaining 2,396,944 shares valued at approximately $810 million.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $496.25; Bank of America and DA Davidson recently raised their targets.
• TSMC reported quarterly earnings of $4.28 per share on $39.89 billion in revenue and increased its quarterly dividend to $1.1136, implying a 1.1% annual yield.

The Manufacturers Life Insurance Company trimmed its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,396,944 shares of the semiconductor company's stock after selling 50,738 shares during the period. Taiwan Semiconductor Manufacturing makes up 0.7% of The Manufacturers Life Insurance Company's portfolio, making the stock its 22nd biggest holding. The Manufacturers Life Insurance Company's holdings in Taiwan Semiconductor Manufacturing were worth $810,012,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quattro Advisors LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth about $25,000. Hilton Head Capital Partners LLC acquired a new stake in Taiwan Semiconductor Manufacturing in the 4th quarter valued at approximately $27,000. Evolution Wealth Management Inc. increased its position in Taiwan Semiconductor Manufacturing by 257.7% in the 1st quarter. Evolution Wealth Management Inc. now owns 93 shares of the semiconductor company's stock worth $31,000 after buying an additional 67 shares during the period. Strategic Advocates LLC increased its position in Taiwan Semiconductor Manufacturing by 62.1% in the 4th quarter. Strategic Advocates LLC now owns 94 shares of the semiconductor company's stock worth $28,000 after buying an additional 36 shares during the period. Finally, Financial Freedom LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the first quarter worth approximately $32,000. 16.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Taiwan Semiconductor Manufacturing news, VP Bor-Zen Tien purchased 2,000 shares of the business's stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $69.91 per share, for a total transaction of $139,820.00. Following the completion of the purchase, the vice president directly owned 11,051 shares in the company, valued at approximately $772,575.41. This trade represents a 22.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Tzu-Sou Chuang sold 200,000 shares of Taiwan Semiconductor Manufacturing stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $69.83, for a total value of $13,966,000.00. Following the sale, the vice president directly owned 2,495,165 shares in the company, valued at $174,237,371.95. The trade was a 7.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders acquired a total of 6,857 shares of company stock worth $512,334 over the last quarter. Company insiders own 1.11% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America increased their price objective on Taiwan Semiconductor Manufacturing from $490.00 to $590.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Wall Street Zen raised shares of Taiwan Semiconductor Manufacturing from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 18th. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Monday, July 6th. DA Davidson increased their price target on shares of Taiwan Semiconductor Manufacturing from $450.00 to $500.00 and gave the company a "buy" rating in a report on Friday, July 17th. Finally, Zacks Research upgraded shares of Taiwan Semiconductor Manufacturing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $496.25.

Taiwan Semiconductor Manufacturing Trading Down 0.9%

Taiwan Semiconductor Manufacturing stock opened at $399.94 on Tuesday. The business has a 50 day moving average price of $427.75 and a two-hundred day moving average price of $382.65. The company has a quick ratio of 2.31, a current ratio of 2.49 and a debt-to-equity ratio of 0.16. Taiwan Semiconductor Manufacturing Company Ltd. has a 12 month low of $223.70 and a 12 month high of $479.00. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 0.93 and a beta of 1.36.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The semiconductor company reported $4.28 earnings per share for the quarter. The company had revenue of $39.89 billion for the quarter. Taiwan Semiconductor Manufacturing had a return on equity of 40.88% and a net margin of 50.31%. As a group, equities analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 16.34 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 16th will be given a $1.1136 dividend. This represents a $4.45 annualized dividend and a yield of 1.1%. This is a boost from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Wednesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is currently 21.43%.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC's service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.

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