Tocqueville Asset Management L.P. Sells 5,707 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Tocqueville Asset Management L.P. reduced its stake in Taiwan Semiconductor Manufacturing by 11.1%, selling 5,707 shares and holding 45,696 shares valued at approximately $7.59 million as of the end of the reporting period.
• Other institutional investors, including Goldman Sachs and Price T Rowe Associates, significantly increased their holdings, indicating strong investor interest in the semiconductor company.
• Taiwan Semiconductor Manufacturing reported $2.47 earnings per share, exceeding analysts' estimates, with revenue of $30.07 billion for the last quarter, up 44.4% year-over-year.

Tocqueville Asset Management L.P. cut its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 11.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,696 shares of the semiconductor company's stock after selling 5,707 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Taiwan Semiconductor Manufacturing were worth $7,586,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSM. Goldman Sachs Group Inc. increased its position in Taiwan Semiconductor Manufacturing by 55.6% in the first quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company's stock worth $2,872,814,000 after purchasing an additional 6,180,445 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Taiwan Semiconductor Manufacturing by 67.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company's stock worth $2,047,065,000 after buying an additional 4,158,772 shares during the last quarter. Nuveen LLC bought a new position in Taiwan Semiconductor Manufacturing during the first quarter worth about $482,676,000. Jennison Associates LLC boosted its holdings in Taiwan Semiconductor Manufacturing by 36.8% during the first quarter. Jennison Associates LLC now owns 9,509,032 shares of the semiconductor company's stock worth $1,578,499,000 after buying an additional 2,559,512 shares during the last quarter. Finally, Sarasin & Partners LLP bought a new position in Taiwan Semiconductor Manufacturing during the first quarter worth about $362,773,000. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Stock Performance

NYSE:TSM opened at $238.97 on Friday. The stock has a fifty day moving average price of $230.48 and a 200-day moving average price of $197.87. The company has a market cap of $1.24 trillion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.16 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.15 and a current ratio of 2.37. Taiwan Semiconductor Manufacturing Company Ltd. has a fifty-two week low of $134.25 and a fifty-two week high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The business had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. During the same period in the prior year, the company earned $1.48 EPS. Taiwan Semiconductor Manufacturing's revenue for the quarter was up 44.4% on a year-over-year basis. As a group, equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSM. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Barclays restated an "overweight" rating and issued a $240.00 target price (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Susquehanna boosted their price target on 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, Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, July 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Taiwan Semiconductor Manufacturing currently has an average rating of "Moderate Buy" and a consensus target price of $258.33.

Taiwan Semiconductor Manufacturing Company 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.

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