Harel Insurance Investments & Financial Services Ltd. Makes New $70.23 Million Investment in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Harel Insurance Investments & Financial Services Ltd. purchased a new position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 421,680 shares of the semiconductor company’s stock, valued at approximately $70,227,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. bought a new position in Taiwan Semiconductor Manufacturing in the 4th quarter worth about $26,000. Hopwood Financial Services Inc. bought a new position in Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $27,000. City Holding Co. increased its position in Taiwan Semiconductor Manufacturing by 238.0% in the 1st 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 period. Accredited Wealth Management LLC bought a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter valued at $31,000. Finally, Signature Resources Capital Management LLC boosted its position in Taiwan Semiconductor Manufacturing by 138.8% during the 1st quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 111 shares during the period. 16.51% of the stock is owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Trading Up 0.8%

Shares of TSM opened at $235.49 on Friday. The stock has a 50 day simple moving average of $198.99 and a 200-day simple moving average of $191.22. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.22 trillion, a PE ratio of 30.27, a PEG ratio of 1.21 and a beta of 1.29. Taiwan Semiconductor Manufacturing Company Ltd. has a 1 year low of $133.57 and a 1 year high of $237.58.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a net margin of 41.67% and a return on equity of 31.43%. The firm had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $834.10 billion. On average, sell-side analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 30.59%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TSM. Needham & Company LLC lifted their target price on Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Barclays restated an “overweight” rating and set a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Finally, Susquehanna raised their price objective on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a “positive” rating in a research report on Tuesday, June 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $233.75.

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.