Virtu Financial LLC Decreases Stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Virtu Financial LLC has decreased its stake in Taiwan Semiconductor Manufacturing Company Ltd. by 84.6%, now owning only 4,151 shares after selling 22,800 shares in the 1st quarter.
• Analysts have generally positive ratings for TSM, with Barclays upgrading its price target from $215.00 to $240.00, while Needham & Company LLC set a target price of $270.00.
• Taiwan Semiconductor Manufacturing reported a quarterly revenue of $30.07 billion, exceeding expectations, alongside earnings of $2.47 EPS, beating estimates by $0.34.

Virtu Financial LLC reduced its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 84.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,151 shares of the semiconductor company's stock after selling 22,800 shares during the period. Virtu Financial LLC's holdings in Taiwan Semiconductor Manufacturing were worth $689,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its position in shares of Taiwan Semiconductor Manufacturing by 0.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,339,479 shares of the semiconductor company's stock worth $214,442,000 after buying an additional 11,693 shares in the last quarter. Pinnacle Investment Management Ltd acquired a new position in Taiwan Semiconductor Manufacturing in the 4th quarter valued at about $26,661,000. Sentry LLC acquired a new position in Taiwan Semiconductor Manufacturing in the 1st quarter valued at about $222,000. Compound Global Advisors LLC raised its stake in Taiwan Semiconductor Manufacturing by 31.2% in 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 last quarter. Finally, Alpha Cubed Investments LLC raised its stake in Taiwan Semiconductor Manufacturing by 283.7% in the 1st quarter. Alpha Cubed Investments LLC now owns 194,028 shares of the semiconductor company's stock valued at $32,209,000 after purchasing an additional 143,457 shares during the last quarter. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TSM. Barclays reissued 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. Needham & Company LLC reiterated a "buy" rating and set a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Citigroup reiterated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Finally, Susquehanna raised their price objective on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing presently has an average rating of "Moderate Buy" and a consensus price target of $258.33.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM opened at $243.99 on Wednesday. The business's fifty day moving average price is $228.27 and its 200 day moving average price is $197.00. Taiwan Semiconductor Manufacturing Company Ltd. has a 12-month low of $134.25 and a 12-month high of $248.28. The stock has a market capitalization of $1.27 trillion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.37 and a quick ratio of 2.15.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.34. The company had revenue of $30.07 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the business posted $1.48 earnings per share. Equities research analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.6499 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's payout ratio is currently 29.65%.

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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