Union Heritage Capital LLC Purchases New Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Union Heritage Capital LLC acquired a new position in Taiwan Semiconductor Manufacturing Company, purchasing 6,600 shares valued at around $1,096,000.
• The company reported $2.47 earnings per share for the last quarter, surpassing analysts' estimates of $2.13 and experiencing a 44.4% year-over-year revenue increase.
• Taiwan Semiconductor Manufacturing is set to pay a quarterly dividend of $0.6499 per share, representing an annualized dividend yield of 1.1% and a payout ratio of 28.16%.

Union Heritage Capital LLC bought a new stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,600 shares of the semiconductor company's stock, valued at approximately $1,096,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its position 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 valued at $214,442,000 after buying an additional 11,693 shares during the last quarter. Pinnacle Investment Management Ltd purchased a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $26,661,000. Sentry LLC bought a new position in Taiwan Semiconductor Manufacturing during the 1st quarter worth approximately $222,000. Compound Global Advisors LLC increased its holdings in 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 valued at $747,000 after purchasing an additional 1,141 shares during the period. Finally, Alpha Cubed Investments LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 283.7% during the first quarter. Alpha Cubed Investments LLC now owns 194,028 shares of the semiconductor company's stock valued at $32,209,000 after buying an additional 143,457 shares during the period. Hedge funds and other institutional investors own 16.51% of the company's stock.

Taiwan Semiconductor Manufacturing Stock Performance

TSM stock opened at $242.27 on Friday. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $134.25 and a one year high of $248.28. The firm has a 50-day simple moving average of $225.43 and a two-hundred day simple moving average of $196.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.15 and a current ratio of 2.37. The firm has a market cap of $1.26 trillion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.12 and a beta of 1.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.34. The company had revenue of $30.07 billion during the quarter, compared to analyst estimates of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The firm's quarterly revenue was up 44.4% on a year-over-year basis. During the same quarter last year, the business posted $1.48 EPS. On average, equities analysts forecast 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 1.1%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 28.16%.

Analysts Set New Price Targets

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

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.

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