Park Avenue Securities LLC Sells 3,590 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Park Avenue Securities LLC cut its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 6.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,966 shares of the semiconductor company’s stock after selling 3,590 shares during the quarter. Park Avenue Securities LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $8,678,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in Taiwan Semiconductor Manufacturing by 53.4% in the 1st quarter. Van ECK Associates Corp now owns 17,416,194 shares of the semiconductor company’s stock worth $2,369,473,000 after purchasing an additional 6,060,511 shares during the period. Capital International Investors raised its holdings in shares of Taiwan Semiconductor Manufacturing by 40.2% during 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 in the last quarter. PineStone Asset Management Inc. raised its holdings in shares of Taiwan Semiconductor Manufacturing by 116.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,784,316 shares of the semiconductor company’s stock worth $1,352,992,000 after acquiring an additional 4,186,133 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 669.7% during the 2nd quarter. Clearbridge Investments LLC now owns 3,721,489 shares of the semiconductor company’s stock worth $646,832,000 after acquiring an additional 3,237,998 shares in the last quarter. Finally, Harding Loevner LP raised its holdings in shares of Taiwan Semiconductor Manufacturing by 20.9% during the 4th quarter. Harding Loevner LP now owns 11,616,715 shares of the semiconductor company’s stock worth $1,222,768,000 after acquiring an additional 2,008,043 shares in the last quarter. 16.51% of the stock is currently owned by institutional investors.

Taiwan Semiconductor Manufacturing Trading Up 0.9 %

NYSE:TSM traded up $1.68 during midday trading on Friday, hitting $181.16. 10,001,896 shares of the company traded hands, compared to its average volume of 12,357,744. The firm’s fifty day moving average is $168.72 and its 200-day moving average is $160.44. Taiwan Semiconductor Manufacturing Company Limited has a 12-month low of $84.95 and a 12-month high of $193.47. The firm has a market capitalization of $939.57 billion, a P/E ratio of 34.50, a P/E/G ratio of 1.03 and a beta of 1.14. The company has a current ratio of 2.47, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $20.33 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The business’s revenue was up 34.6% compared to the same quarter last year. On average, sell-side analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a $0.4871 dividend. This represents a $1.95 annualized dividend and a yield of 1.08%. The ex-dividend date is Thursday, December 12th. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is currently 36.95%.

Analyst Upgrades and Downgrades

TSM has been the topic of several recent research reports. Needham & Company LLC upped their price objective on Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. TD Cowen upped their price objective on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Susquehanna reaffirmed a “positive” rating and set a $250.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Wednesday, August 14th. Finally, Sanford C. Bernstein increased their price target on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.00.

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.