PICTET BANK & TRUST Ltd Trims Stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

PICTET BANK & TRUST Ltd lowered its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,120 shares of the semiconductor company’s stock after selling 680 shares during the period. Taiwan Semiconductor Manufacturing makes up approximately 2.3% of PICTET BANK & TRUST Ltd’s investment portfolio, making the stock its 17th biggest holding. PICTET BANK & TRUST Ltd’s holdings in Taiwan Semiconductor Manufacturing were worth $1,846,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TSM. Keybank National Association OH increased its stake in Taiwan Semiconductor Manufacturing by 6.0% in the 1st quarter. Keybank National Association OH now owns 40,751 shares of the semiconductor company’s stock worth $6,765,000 after buying an additional 2,302 shares during the period. Rossby Financial LCC raised its stake in shares of Taiwan Semiconductor Manufacturing by 107.3% during the first quarter. Rossby Financial LCC now owns 2,743 shares of the semiconductor company’s stock valued at $453,000 after acquiring an additional 1,420 shares in the last quarter. Sageworth Trust Co of South Dakota purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the first quarter valued at approximately $419,000. Mather Group LLC. grew its stake in Taiwan Semiconductor Manufacturing by 11.7% in the first quarter. Mather Group LLC. now owns 6,567 shares of the semiconductor company’s stock worth $1,090,000 after purchasing an additional 687 shares in the last quarter. Finally, Smith Salley Wealth Management increased its holdings in Taiwan Semiconductor Manufacturing by 19.3% during the 1st quarter. Smith Salley Wealth Management now owns 1,871 shares of the semiconductor company’s stock worth $311,000 after purchasing an additional 303 shares during the period. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Citigroup reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Susquehanna upped their price objective on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a “positive” rating in a research note on Tuesday, June 17th. Needham & Company LLC raised their target price on shares of Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Barclays restated an “overweight” rating and issued a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and a consensus price target of $233.75.

Taiwan Semiconductor Manufacturing Trading Down 0.7%

Taiwan Semiconductor Manufacturing stock opened at $224.89 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.18 and a current ratio of 2.39. The stock has a market cap of $1.17 trillion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 1.17 and a beta of 1.29. The stock has a 50-day moving average of $196.04 and a two-hundred day moving average of $190.70. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $133.57 and a one year high of $228.88.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. The firm had revenue of $25.82 billion during the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a net margin of 41.67% and a return on equity of 31.43%. On average, research analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 dividend yield of 1.16%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 30.59%.

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.