Turtle Creek Wealth Advisors LLC Takes Position in Taiwan Semiconductor Manufacturing Company Ltd. $TSM

Key Points

• Turtle Creek Wealth Advisors LLC acquired a new stake in Taiwan Semiconductor Manufacturing Company Ltd. during the second quarter, purchasing 6,772 shares valued at approximately $1.53 million.
• Several institutional investors, including Goldman Sachs Group Inc. and Price T Rowe Associates Inc. MD, significantly increased their positions in Taiwan Semiconductor Manufacturing, reflecting growing confidence in the company's stock.
• The company announced a dividend increase to $0.8348 per share, representing an annual yield of 1.1%, payable on January 8th to shareholders of record by December 11th.

Turtle Creek Wealth Advisors LLC acquired a new stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,772 shares of the semiconductor company's stock, valued at approximately $1,534,000.

Other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in Taiwan Semiconductor Manufacturing by 55.6% during 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 acquiring an additional 6,180,445 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Taiwan Semiconductor Manufacturing by 19.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,350,239 shares of the semiconductor company's stock worth $2,050,141,000 after acquiring an additional 1,984,835 shares in the last quarter. WCM Investment Management LLC boosted its stake in Taiwan Semiconductor Manufacturing by 0.6% during the first quarter. WCM Investment Management LLC now owns 9,734,044 shares of the semiconductor company's stock worth $1,608,551,000 after acquiring an additional 59,079 shares in the last quarter. Jennison Associates LLC boosted its stake 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 acquiring an additional 2,559,512 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Taiwan Semiconductor Manufacturing by 31.5% during the first quarter. Alliancebernstein L.P. now owns 8,864,014 shares of the semiconductor company's stock worth $1,471,426,000 after acquiring an additional 2,121,758 shares in the last quarter. 16.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Susquehanna increased their target price on shares of Taiwan Semiconductor Manufacturing from $300.00 to $400.00 and gave the stock a "positive" rating in a research note on Friday, October 10th. Wall Street Zen raised shares of Taiwan Semiconductor Manufacturing from a "hold" rating to a "buy" rating in a research note on Sunday, August 31st. Barclays upped their price objective on shares of Taiwan Semiconductor Manufacturing from $325.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, October 9th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Taiwan Semiconductor Manufacturing in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing presently has an average rating of "Moderate Buy" and a consensus price target of $333.33.

Taiwan Semiconductor Manufacturing Stock Performance

TSM opened at $305.48 on Thursday. The company's fifty day moving average price is $259.95 and its two-hundred day moving average price is $219.85. The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 34.83, a PEG ratio of 1.41 and a beta of 1.28. The company has a current ratio of 2.37, a quick ratio of 2.15 and a debt-to-equity ratio of 0.20. Taiwan Semiconductor Manufacturing Company Ltd. has a 1-year low of $134.25 and a 1-year high of $307.30.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 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 the consensus estimate of $28.50 billion. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 33.37%. The firm's revenue for the quarter was up 44.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.48 earnings per share. On average, analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 11th will be issued a $0.8348 dividend. This is an increase from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.65. This represents a $3.34 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, December 11th. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 29.99%.

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.

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