Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) Holdings Trimmed by Virtus Family Office LLC

Virtus Family Office LLC cut its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 1.0% during the 1st quarter, Holdings Channel reports. The firm owned 25,518 shares of the semiconductor company’s stock after selling 252 shares during the quarter. Taiwan Semiconductor Manufacturing makes up approximately 5.5% of Virtus Family Office LLC’s holdings, making the stock its 3rd largest holding. Virtus Family Office LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $4,253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TSM. City Holding Co. boosted its stake in Taiwan Semiconductor Manufacturing by 238.0% in the first quarter. City Holding Co. now owns 169 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 119 shares during the last quarter. Accredited Wealth Management LLC purchased a new position in Taiwan Semiconductor Manufacturing in the fourth quarter valued at about $31,000. Signature Resources Capital Management LLC boosted its stake in Taiwan Semiconductor Manufacturing by 138.8% in the first quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 111 shares during the last quarter. Graybill Wealth Management LTD. purchased a new position in Taiwan Semiconductor Manufacturing in the first quarter valued at about $33,000. Finally, Vision Financial Markets LLC purchased a new position in Taiwan Semiconductor Manufacturing in the first quarter valued at about $33,000. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Stock Performance

NYSE TSM opened at $241.91 on Friday. The company’s 50 day moving average is $226.40 and its 200-day moving average is $196.73. Taiwan Semiconductor Manufacturing Company Ltd. has a 12-month low of $134.25 and a 12-month high of $248.28. The company has a quick ratio of 2.15, a current ratio of 2.37 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.25 trillion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 32.87%. The company had revenue of $30.07 billion for the quarter, compared to analyst estimates of $28.50 billion. During the same quarter in the previous year, the firm posted $1.48 earnings per share. The company’s quarterly revenue was up 44.4% compared to the same quarter last year. Sell-side analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. 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. Investors of record on Tuesday, September 16th will be issued a dividend of $0.6499 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 29.65%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. Susquehanna boosted their target price on shares of Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the company a “positive” rating in a research note on Monday, July 14th. Barclays reiterated an “overweight” rating and issued a $240.00 target price (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Finally, Citigroup reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.33.

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.