Fred Alger Management LLC Has $358.75 Million Stock Holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Fred Alger Management LLC raised its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 8.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,065,689 shares of the semiconductor company’s stock after acquiring an additional 159,960 shares during the period. Taiwan Semiconductor Manufacturing comprises approximately 1.7% of Fred Alger Management LLC’s holdings, making the stock its 11th largest holding. Fred Alger Management LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $358,748,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. PineStone Asset Management Inc. increased its stake in Taiwan Semiconductor Manufacturing by 116.3% in the second quarter. PineStone Asset Management Inc. now owns 7,784,316 shares of the semiconductor company’s stock valued at $1,352,992,000 after acquiring an additional 4,186,133 shares during the period. FMR LLC boosted its holdings in Taiwan Semiconductor Manufacturing by 7.2% during the third quarter. FMR LLC now owns 55,974,769 shares of the semiconductor company’s stock valued at $9,721,138,000 after purchasing an additional 3,783,802 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 669.7% in the 2nd quarter. Clearbridge Investments LLC now owns 3,721,489 shares of the semiconductor company’s stock valued at $646,832,000 after purchasing an additional 3,237,998 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of Taiwan Semiconductor Manufacturing by 1,226.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,983,830 shares of the semiconductor company’s stock worth $344,809,000 after buying an additional 1,834,298 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 799.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,899,088 shares of the semiconductor company’s stock worth $329,815,000 after buying an additional 1,687,886 shares during the period. Institutional investors own 16.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. StockNews.com cut Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, October 17th. Barclays lifted 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, November 18th. Finally, Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Taiwan Semiconductor Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.00.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of NYSE:TSM opened at $181.19 on Friday. The business has a fifty day moving average of $188.95 and a 200-day moving average of $174.75. The firm has a market cap of $939.73 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 0.84 and a beta of 1.12. 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 Company Limited has a twelve month low of $95.25 and a twelve month high of $212.60.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.44%. The company had revenue of $23.50 billion during the quarter, compared to the consensus estimate of $22.72 billion. On average, equities research analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be given a $0.5484 dividend. This represents a $2.19 dividend on an annualized basis and a yield of 1.21%. 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. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) 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.