Summit Global Investments Reduces Stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Summit Global Investments cut its holdings in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 29.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,451 shares of the semiconductor company’s stock after selling 1,826 shares during the quarter. Summit Global Investments’ holdings in Taiwan Semiconductor Manufacturing were worth $774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. GFG Capital LLC grew its position in Taiwan Semiconductor Manufacturing by 3.9% during the 2nd quarter. GFG Capital LLC now owns 5,225 shares of the semiconductor company’s stock worth $908,000 after purchasing an additional 194 shares during the period. Nadler Financial Group Inc. grew its holdings in Taiwan Semiconductor Manufacturing by 22.5% during the second quarter. Nadler Financial Group Inc. now owns 1,823 shares of the semiconductor company’s stock worth $317,000 after acquiring an additional 335 shares during the period. Focus Financial Network Inc. raised its position in Taiwan Semiconductor Manufacturing by 10.8% during the second quarter. Focus Financial Network Inc. now owns 4,093 shares of the semiconductor company’s stock valued at $701,000 after acquiring an additional 398 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $398,000. Finally, Sanibel Captiva Trust Company Inc. boosted its position in Taiwan Semiconductor Manufacturing by 5.2% in the 2nd quarter. Sanibel Captiva Trust Company Inc. now owns 23,294 shares of the semiconductor company’s stock worth $4,049,000 after purchasing an additional 1,155 shares in the last quarter. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TSM has been the subject of a number of analyst reports. Barclays upped their price objective on shares of 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 reiterated a “positive” rating and set a $250.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, August 14th. Sanford C. Bernstein boosted their price objective on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. 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 report on Monday, July 15th. Finally, TD Cowen lifted their price target on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.00.

Taiwan Semiconductor Manufacturing Price Performance

Shares of NYSE:TSM traded down $3.31 during trading on Tuesday, reaching $172.14. The stock had a trading volume of 13,525,212 shares, compared to its average volume of 19,145,266. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.47. Taiwan Semiconductor Manufacturing Company Limited has a 1-year low of $84.01 and a 1-year high of $193.47. The stock has a market cap of $892.79 billion, a PE ratio of 32.79, a PEG ratio of 1.02 and a beta of 1.14. The business has a fifty day moving average price of $171.56 and a 200-day moving average price of $151.83.

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. The business had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.33 billion. Taiwan Semiconductor Manufacturing had a net margin of 37.85% and a return on equity of 25.54%. The business’s revenue was up 34.6% on a year-over-year basis. During the same period last year, the company posted $1.14 EPS. On average, equities analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be given a dividend of $0.4871 per share. This represents a $1.95 annualized dividend and a dividend yield of 1.13%. 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. 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.