LGT Fund Management Co Ltd. Sells 12,508 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

LGT Fund Management Co Ltd. reduced its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 13.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 78,446 shares of the semiconductor company’s stock after selling 12,508 shares during the period. Taiwan Semiconductor Manufacturing makes up 1.2% of LGT Fund Management Co Ltd.’s investment portfolio, making the stock its 21st biggest position. LGT Fund Management Co Ltd.’s holdings in Taiwan Semiconductor Manufacturing were worth $13,022,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its stake in Taiwan Semiconductor Manufacturing by 55.6% in the first quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company’s stock worth $2,872,814,000 after purchasing an additional 6,180,445 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Taiwan Semiconductor Manufacturing by 67.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company’s stock worth $2,047,065,000 after purchasing an additional 4,158,772 shares during the last quarter. Nuveen LLC bought a new stake in Taiwan Semiconductor Manufacturing in the first quarter worth $482,676,000. Jennison Associates LLC lifted its stake in Taiwan Semiconductor Manufacturing by 36.8% in the first quarter. Jennison Associates LLC now owns 9,509,032 shares of the semiconductor company’s stock worth $1,578,499,000 after purchasing an additional 2,559,512 shares during the last quarter. Finally, Sarasin & Partners LLP bought a new stake in Taiwan Semiconductor Manufacturing in the first quarter worth $362,773,000. 16.51% of the stock is owned by institutional investors.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of NYSE:TSM opened at $241.98 on Tuesday. The company has a market cap of $1.26 trillion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The company has a 50-day moving average price of $227.34 and a 200-day moving average price of $196.67. The company has a current ratio of 2.37, a quick ratio of 2.15 and a debt-to-equity ratio of 0.18. Taiwan Semiconductor Manufacturing Company Ltd. has a 12 month low of $134.25 and a 12 month high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced 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 analysts’ expectations of $28.50 billion. During the same quarter in the previous year, the company earned $1.48 earnings per share. Taiwan Semiconductor Manufacturing’s quarterly revenue was up 44.4% on a year-over-year basis. As a group, equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 annualized dividend and a dividend yield of 1.1%. Taiwan Semiconductor Manufacturing’s payout ratio is currently 28.16%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Citigroup reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Barclays reissued an “overweight” rating and issued a $240.00 price target (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 3rd. Susquehanna upped their price objective 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, July 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Taiwan Semiconductor Manufacturing presently has an average rating of “Moderate Buy” and a consensus price target of $258.33.

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.