Sprucegrove Investment Management Ltd. Sells 2,400 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Sprucegrove Investment Management Ltd. lessened its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 11.0% in the second quarter, Holdings Channel.com reports. The firm owned 19,500 shares of the semiconductor company’s stock after selling 2,400 shares during the quarter. Sprucegrove Investment Management Ltd.’s holdings in Taiwan Semiconductor Manufacturing were worth $3,389,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TSM. Seed Wealth Management Inc. increased its stake in shares of Taiwan Semiconductor Manufacturing by 1.3% in the second quarter. Seed Wealth Management Inc. now owns 4,558 shares of the semiconductor company’s stock valued at $792,000 after buying an additional 57 shares during the period. Keudell Morrison Wealth Management grew its holdings in Taiwan Semiconductor Manufacturing by 1.5% during the 2nd quarter. Keudell Morrison Wealth Management now owns 4,027 shares of the semiconductor company’s stock worth $700,000 after acquiring an additional 59 shares during the last quarter. Clifford Swan Investment Counsel LLC increased its position in Taiwan Semiconductor Manufacturing by 1.4% in the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 4,798 shares of the semiconductor company’s stock valued at $834,000 after acquiring an additional 66 shares during the period. Cadence Bank raised its stake in shares of Taiwan Semiconductor Manufacturing by 0.5% during the first quarter. Cadence Bank now owns 15,004 shares of the semiconductor company’s stock valued at $2,041,000 after acquiring an additional 69 shares during the last quarter. Finally, SNS Financial Group LLC raised its stake in shares of Taiwan Semiconductor Manufacturing by 3.4% during the second quarter. SNS Financial Group LLC now owns 2,114 shares of the semiconductor company’s stock valued at $369,000 after acquiring an additional 69 shares during the last quarter. 16.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TSM has been the subject of a number of recent research reports. Sanford C. Bernstein increased their price objective on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, June 20th. Needham & Company LLC increased their price target on Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. TD Cowen raised their price objective on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Susquehanna reiterated a “positive” rating and issued a $250.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Wednesday, August 14th. Finally, Barclays increased their target price on shares of Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Taiwan Semiconductor Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.00.

Taiwan Semiconductor Manufacturing Stock Performance

TSM stock opened at $176.09 on Friday. The firm has a market cap of $913.27 billion, a PE ratio of 33.54, a price-to-earnings-growth ratio of 0.99 and a beta of 1.14. The company has a current ratio of 2.47, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average price of $167.30 and a 200-day moving average price of $157.59. Taiwan Semiconductor Manufacturing Company Limited has a 1-year low of $84.01 and a 1-year high of $193.47.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. Taiwan Semiconductor Manufacturing had a return on equity of 25.54% and a net margin of 37.85%. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.33 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The firm’s revenue for the quarter was up 34.6% on a year-over-year basis. As a group, equities research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.4871 per share. This represents a $1.95 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, December 12th. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s payout ratio is presently 37.71%.

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.