Summit Global Investments Sells 9,915 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Summit Global Investments lowered its holdings in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 77.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,851 shares of the semiconductor company’s stock after selling 9,915 shares during the period. Summit Global Investments’ holdings in Taiwan Semiconductor Manufacturing were worth $563,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in shares of Taiwan Semiconductor Manufacturing during the fourth quarter valued at about $25,000. IMG Wealth Management Inc. bought a new position in Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $26,000. Hopwood Financial Services Inc. bought a new position in Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $27,000. Roxbury Financial LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth approximately $29,000. Finally, Endeavor Private Wealth Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth approximately $40,000. Institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Trading Down 0.5 %

Shares of TSM opened at $176.58 on Monday. The firm’s 50-day moving average price is $195.68 and its 200-day moving average price is $192.33. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $915.81 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 0.66 and a beta of 1.13. Taiwan Semiconductor Manufacturing Company Limited has a 1-year low of $125.78 and a 1-year high of $226.40.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. Sell-side analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.6855 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, June 12th. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. Taiwan Semiconductor Manufacturing’s payout ratio is 30.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TSM shares. Needham & Company LLC reissued a “buy” rating and issued a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, February 18th. Barclays raised their target price on Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, StockNews.com cut Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and an average price target of $220.00.

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.