Evergreen Capital Management LLC Cuts Holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Evergreen Capital Management LLC lowered its stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,139 shares of the semiconductor company’s stock after selling 8,576 shares during the period. Taiwan Semiconductor Manufacturing makes up approximately 0.7% of Evergreen Capital Management LLC’s investment portfolio, making the stock its 24th biggest position. Evergreen Capital Management LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $19,725,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Johnson Financial Group Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at $25,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter valued at $25,000. LifeSteps Financial Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 1st quarter valued at $27,000. Olistico Wealth LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter valued at $27,000. Finally, Valley Wealth Managers Inc. acquired a new stake in Taiwan Semiconductor Manufacturing during the 2nd quarter worth about $27,000. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Taiwan Semiconductor Manufacturing Stock Performance

NYSE:TSM opened at $174.08 on Monday. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $84.01 and a fifty-two week high of $193.47. The firm’s 50 day moving average is $167.03 and its two-hundred day moving average is $158.12. The company has a market cap of $902.85 billion, a P/E ratio of 33.16, a P/E/G ratio of 0.99 and a beta of 1.14. The company has a quick ratio of 2.21, a current ratio of 2.47 and a debt-to-equity ratio of 0.26.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released 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 net margin of 37.85% and a return on equity of 25.54%. The business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.33 billion. During the same period last year, the business earned $1.14 EPS. The business’s revenue was up 34.6% on a year-over-year basis. Analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be paid a dividend of $0.4871 per share. This represents a $1.95 dividend on an annualized basis and a yield of 1.12%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, December 12th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 36.95%.

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.