Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Shares Bought by Westpac Banking Corp

Key Points

• Westpac Banking Corp increased its stake in Taiwan Semiconductor Manufacturing Company Ltd. by 25.5% in Q1, owning a total of 41,930 shares valued at $6.96 million.
• The company recently announced an EPS of $2.47 for the last quarter, exceeding expectations, and reported revenues of $30.07 billion, which marks a 44.4% increase year-over-year.
• Taiwan Semiconductor Manufacturing has a current market capitalization of $1.26 trillion and is currently rated as a "Moderate Buy" by analysts with a consensus target price of $258.33.

Westpac Banking Corp raised its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 25.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,930 shares of the semiconductor company's stock after acquiring an additional 8,510 shares during the quarter. Westpac Banking Corp's holdings in Taiwan Semiconductor Manufacturing were worth $6,960,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. City Holding Co. boosted its stake in Taiwan Semiconductor Manufacturing by 238.0% during the 1st quarter. City Holding Co. now owns 169 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 119 shares during the last quarter. Accredited Wealth Management LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth $31,000. Signature Resources Capital Management LLC raised its holdings 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. Graybill Wealth Management LTD. acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter worth $33,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter worth $33,000. 16.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in 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 report on Thursday, July 17th. Susquehanna increased their target price on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the stock a "positive" rating in a report on Monday, July 14th. Citigroup reissued a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Finally, Barclays reissued an "overweight" rating and set a $240.00 target price (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $258.33.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM traded up $1.90 during midday trading on Tuesday, hitting $243.99. 7,294,659 shares of the stock traded hands, compared to its average volume of 12,346,192. Taiwan Semiconductor Manufacturing Company Ltd. has a 1-year low of $134.25 and a 1-year high of $248.28. The firm 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 quick ratio of 2.15 and a current ratio of 2.37. The business's 50 day moving average price is $228.27 and its two-hundred day moving average price is $197.00.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 32.87%. The company had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. The company's revenue for the quarter was up 44.4% compared to the same quarter last year. Equities research analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be issued 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 of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is 28.16%.

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.