Renaissance Technologies LLC Lowers Holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Renaissance Technologies LLC lowered its position in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 39.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 34,829 shares of the semiconductor company’s stock after selling 23,091 shares during the period. Renaissance Technologies LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $6,054,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TSM. Atlantic Edge Private Wealth Management LLC purchased a new position in Taiwan Semiconductor Manufacturing during the 2nd quarter valued at about $25,000. LifeSteps Financial Inc. purchased a new position in Taiwan Semiconductor Manufacturing during the first quarter valued at approximately $27,000. Olistico Wealth LLC purchased a new position in Taiwan Semiconductor Manufacturing during the second quarter valued at approximately $27,000. Valley Wealth Managers Inc. bought a new position in Taiwan Semiconductor Manufacturing in the second quarter worth approximately $27,000. Finally, North Star Investment Management Corp. lifted its holdings in Taiwan Semiconductor Manufacturing by 670.4% during the first quarter. North Star Investment Management Corp. now owns 208 shares of the semiconductor company’s stock worth $28,000 after buying an additional 181 shares during the period. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Analysts Set New Price Targets

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

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM stock opened at $186.79 on Friday. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $84.10 and a fifty-two week high of $193.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.47. The firm has a market capitalization of $968.77 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 1.07 and a beta of 1.14. The stock’s 50-day simple moving average is $166.96 and its 200-day simple moving average is $158.71.

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

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.4871 per share. The ex-dividend date is Thursday, December 12th. This represents a $1.95 dividend on an annualized basis and a yield of 1.04%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s payout ratio is currently 37.71%.

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.