Frank Rimerman Advisors LLC Raises Stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Frank Rimerman Advisors LLC boosted its holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 3,168.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 90,006 shares of the semiconductor company’s stock after buying an additional 87,252 shares during the period. Taiwan Semiconductor Manufacturing makes up about 1.1% of Frank Rimerman Advisors LLC’s investment portfolio, making the stock its 16th largest position. Frank Rimerman Advisors LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $15,644,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Van ECK Associates Corp boosted its position in shares of Taiwan Semiconductor Manufacturing by 53.4% in the first quarter. Van ECK Associates Corp now owns 17,416,194 shares of the semiconductor company’s stock worth $2,369,473,000 after buying an additional 6,060,511 shares during the period. Capital International Investors boosted its holdings in Taiwan Semiconductor Manufacturing by 40.2% in the 1st quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock worth $2,679,602,000 after acquiring an additional 5,643,949 shares during the period. Capital World Investors grew its position in Taiwan Semiconductor Manufacturing by 11.4% in the fourth quarter. Capital World Investors now owns 41,356,279 shares of the semiconductor company’s stock valued at $4,301,178,000 after acquiring an additional 4,240,928 shares in the last quarter. PineStone Asset Management Inc. raised its stake in shares of Taiwan Semiconductor Manufacturing by 116.3% during the second quarter. PineStone Asset Management Inc. now owns 7,784,316 shares of the semiconductor company’s stock valued at $1,352,992,000 after purchasing an additional 4,186,133 shares during the period. Finally, Harding Loevner LP lifted its position in shares of Taiwan Semiconductor Manufacturing by 20.9% during the fourth quarter. Harding Loevner LP now owns 11,616,715 shares of the semiconductor company’s stock worth $1,222,768,000 after purchasing an additional 2,008,043 shares in the last quarter. 16.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein lifted their price target on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. Barclays lifted their target price on Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. Susquehanna reissued a “positive” rating and issued a $250.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Wednesday, August 14th. TD Cowen raised their price objective on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Finally, Needham & Company LLC increased their target price on Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.00.

Taiwan Semiconductor Manufacturing Stock Down 1.2 %

NYSE:TSM opened at $174.08 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.47. The company has a market capitalization of $902.85 billion, a price-to-earnings ratio of 33.16, a price-to-earnings-growth ratio of 0.99 and a beta of 1.14. Taiwan Semiconductor Manufacturing Company Limited has a one year low of $84.01 and a one year high of $193.47. The stock has a 50-day simple moving average of $167.03 and a 200 day simple moving average of $158.00.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. Taiwan Semiconductor Manufacturing had a return on equity of 25.54% and a net margin of 37.85%. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.33 billion. During the same period in the previous year, the business earned $1.14 EPS. The business’s quarterly revenue was up 34.6% on a year-over-year basis. Sell-side analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a $0.4871 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $1.95 annualized dividend and a dividend yield of 1.12%. Taiwan Semiconductor Manufacturing’s payout ratio is 36.95%.

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.