Principal Financial Group Inc. Purchases 1,106,695 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Principal Financial Group Inc. boosted its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 74.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,603,108 shares of the semiconductor company’s stock after acquiring an additional 1,106,695 shares during the period. Principal Financial Group Inc. owned about 0.05% of Taiwan Semiconductor Manufacturing worth $432,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSM. IMG Wealth Management Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing during the fourth quarter valued at approximately $26,000. Hopwood Financial Services Inc. purchased a new stake in Taiwan Semiconductor Manufacturing during the fourth quarter worth $27,000. City Holding Co. boosted its position in Taiwan Semiconductor Manufacturing by 238.0% during 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 in the last quarter. Accredited Wealth Management LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter valued at $31,000. Finally, Signature Resources Capital Management LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 138.8% in 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 in the last quarter. 16.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on TSM. Needham & Company LLC raised their price objective on Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday. Susquehanna increased their price objective on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a “positive” rating in a report on Tuesday, June 17th. Barclays restated an “overweight” rating and set 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $233.75.

Taiwan Semiconductor Manufacturing Price Performance

Shares of NYSE TSM opened at $233.61 on Thursday. Taiwan Semiconductor Manufacturing Company Ltd. has a 52 week low of $133.57 and a 52 week high of $233.82. The company has a quick ratio of 2.18, a current ratio of 2.39 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.21 trillion, a P/E ratio of 30.03, a P/E/G ratio of 1.16 and a beta of 1.29. The business’s 50 day moving average price is $197.56 and its 200 day moving average price is $190.99.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released 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. Taiwan Semiconductor Manufacturing had a net margin of 41.67% and a return on equity of 31.43%. The business had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $834.10 billion. On average, sell-side analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.6499 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.11%. Taiwan Semiconductor Manufacturing’s payout ratio is currently 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.