PNC Financial Services Group Inc. Cuts Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

PNC Financial Services Group Inc. reduced its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,113,193 shares of the semiconductor company’s stock after selling 10,983 shares during the period. PNC Financial Services Group Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $193,328,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BOKF NA increased its stake in shares of Taiwan Semiconductor Manufacturing by 4.8% during the 1st quarter. BOKF NA now owns 1,762 shares of the semiconductor company’s stock worth $249,000 after purchasing an additional 81 shares in the last quarter. HF Advisory Group LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 55.5% during the 3rd quarter. HF Advisory Group LLC now owns 13,755 shares of the semiconductor company’s stock worth $2,389,000 after acquiring an additional 4,907 shares during the period. Impax Asset Management Group plc raised its stake in Taiwan Semiconductor Manufacturing by 33.7% during the third quarter. Impax Asset Management Group plc now owns 26,418 shares of the semiconductor company’s stock worth $4,588,000 after purchasing an additional 6,664 shares during the period. Advisor Resource Council acquired a new position in Taiwan Semiconductor Manufacturing in the third quarter valued at $613,000. Finally, Callahan Advisors LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 67.1% during the 3rd quarter. Callahan Advisors LLC now owns 8,360 shares of the semiconductor company’s stock worth $1,452,000 after purchasing an additional 3,358 shares during the period. 16.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TSM. Susquehanna reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Barclays raised their price target on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the company an “overweight” rating in a report on Monday. StockNews.com cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $214.00.

Taiwan Semiconductor Manufacturing Trading Up 1.2 %

TSM opened at $189.72 on Wednesday. Taiwan Semiconductor Manufacturing Company Limited has a 12-month low of $95.25 and a 12-month high of $212.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30. The stock has a market capitalization of $983.97 billion, a PE ratio of 30.40, a P/E/G ratio of 0.87 and a beta of 1.12. The firm’s fifty day moving average price is $186.82 and its 200 day moving average price is $173.13.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its earnings results on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.20. The business had revenue of $23.50 billion for the quarter, compared to analyst estimates of $22.72 billion. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.44%. As a group, research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.84 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.5484 per share. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.19 annualized dividend and a yield of 1.16%. Taiwan Semiconductor Manufacturing’s payout ratio is presently 31.57%.

Taiwan Semiconductor Manufacturing Company 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.