Trust Point Inc. Cuts Stock Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Trust Point Inc. reduced its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,119 shares of the semiconductor company’s stock after selling 218 shares during the quarter. Trust Point Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $1,514,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSM. IMG Wealth Management Inc. purchased a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth about $26,000. Hopwood Financial Services Inc. purchased a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth about $27,000. City Holding Co. boosted its holdings 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 purchasing an additional 119 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $29,000. Finally, Accredited Wealth Management LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter valued at about $31,000. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Barclays restated 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. Finally, Susquehanna restated a “positive” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, April 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.00.

Taiwan Semiconductor Manufacturing Trading Down 2.0%

NYSE TSM opened at $211.07 on Monday. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $133.57 and a fifty-two week high of $226.40. The stock has a market cap of $1.09 trillion, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 0.66 and a beta of 1.27. The stock has a 50 day simple moving average of $180.24 and a two-hundred day simple moving average of $188.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.30 and a current ratio of 2.57.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.09. The company had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. On average, analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be paid a $0.6499 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 30.46%.

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.