Westover Capital Advisors LLC Acquires 3,597 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Key Points

• Westover Capital Advisors LLC increased its stake in Taiwan Semiconductor Manufacturing Company by 24.4%, owning 18,315 shares worth $3,040,000 as of its latest SEC filing.
• Recent analysts' ratings for Taiwan Semiconductor Manufacturing have been positive, with Needham & Company and Citigroup both reaffirming a "buy" rating and price targets as high as $270.00.
• The company's latest quarterly earnings report showed an EPS of $2.47, exceeding estimates, with a significant 44.4% year-over-year revenue growth to $30.07 billion.

Westover Capital Advisors LLC boosted its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 24.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,315 shares of the semiconductor company's stock after purchasing an additional 3,597 shares during the quarter. Westover Capital Advisors LLC's holdings in Taiwan Semiconductor Manufacturing were worth $3,040,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Accredited Wealth Management LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth $31,000. City Holding Co. raised its stake in shares of Taiwan Semiconductor Manufacturing by 238.0% in the 1st quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock worth $28,000 after buying an additional 119 shares in the last quarter. Glass Jacobson Investment Advisors llc raised its stake in shares of Taiwan Semiconductor Manufacturing by 289.4% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company's stock worth $36,000 after buying an additional 136 shares in the last quarter. Nemes Rush Group LLC raised its stake in shares of Taiwan Semiconductor Manufacturing by 1,810.0% in the 4th quarter. Nemes Rush Group LLC now owns 191 shares of the semiconductor company's stock worth $38,000 after buying an additional 181 shares in the last quarter. Finally, Signature Resources Capital Management LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 138.8% during the first quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 111 shares during the period. Institutional investors own 16.51% of the company's stock.

Analyst Ratings Changes

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

Taiwan Semiconductor Manufacturing Stock Down 1.4%

Shares of TSM traded down $3.36 during trading hours on Monday, hitting $242.24. 6,579,146 shares of the company were exchanged, compared to its average volume of 15,563,804. The company has a market cap of $1.26 trillion, a PE ratio of 27.63, a PEG ratio of 1.18 and a beta of 1.29. The firm's 50 day moving average is $217.47 and its 200-day moving average is $194.66. 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 quick ratio of 2.18 and a current ratio of 2.39.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, topping 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 return on equity of 34.53% and a net margin of 42.91%. The firm's revenue was up 44.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.48 EPS. On average, equities research analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently declared 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 is Tuesday, September 16th. This represents a $2.60 annualized dividend and a dividend yield of 1.07%. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 29.65%.

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.