Victory Capital Management Inc. Sells 21,092 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Victory Capital Management Inc. reduced its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 17.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 99,526 shares of the semiconductor company's stock after selling 21,092 shares during the quarter. Victory Capital Management Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $16,521,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TSM. DekaBank Deutsche Girozentrale increased its holdings in 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 worth $214,442,000 after purchasing an additional 11,693 shares in the last quarter. Pinnacle Investment Management Ltd bought a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $26,661,000. Sentry LLC bought a new stake 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 worth $747,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Polymer Capital Management HK LTD increased its holdings in Taiwan Semiconductor Manufacturing by 47.7% during the 4th quarter. Polymer Capital Management HK LTD now owns 86,493 shares of the semiconductor company's stock worth $17,082,000 after purchasing an additional 27,938 shares in the last quarter. 16.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Taiwan Semiconductor Manufacturing Stock Performance

Shares of NYSE:TSM traded up $3.95 during trading on Friday, hitting $245.55. 11,583,376 shares of the company were exchanged, compared to its average volume of 11,641,382. The company has a market cap of $1.27 trillion, a PE ratio of 28.00, a P/E/G ratio of 1.18 and a beta of 1.29. The stock has a 50 day moving average of $217.47 and a 200 day moving average of $194.75. Taiwan Semiconductor Manufacturing Company Ltd. has a 52-week low of $133.57 and a 52-week high of $248.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 2.18.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last issued its quarterly earnings data 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. Taiwan Semiconductor Manufacturing had a return on equity of 34.53% and a net margin of 42.91%. The company had revenue of $30.07 billion for the quarter, compared to the consensus estimate of $28.50 billion. During the same quarter last year, the business posted $1.48 earnings per share. The firm's revenue was up 44.4% compared to the same quarter last year. As a group, equities research 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 announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be paid a $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a yield of 1.06%. Taiwan Semiconductor Manufacturing's dividend payout ratio is presently 28.16%.

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.