Select Equity Group L.P. Sells 137,953 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Select Equity Group L.P. cut its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,498,069 shares of the semiconductor company’s stock after selling 137,953 shares during the period. Taiwan Semiconductor Manufacturing accounts for approximately 1.7% of Select Equity Group L.P.’s investment portfolio, making the stock its 18th biggest holding. Select Equity Group L.P.’s holdings in Taiwan Semiconductor Manufacturing were worth $434,189,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new stake in Taiwan Semiconductor Manufacturing during the 2nd quarter valued at $27,000. Olistico Wealth LLC acquired a new position in Taiwan Semiconductor Manufacturing during the second quarter worth $27,000. NewSquare Capital LLC acquired a new position in Taiwan Semiconductor Manufacturing during the second quarter worth $29,000. Finally, Fairscale Capital LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the second quarter valued at $32,000. 16.51% of the stock is owned by institutional investors.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM opened at $186.79 on Friday. The stock has a 50 day moving average of $167.26 and a 200 day moving average of $158.91. The company has a current ratio of 2.47, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. Taiwan Semiconductor Manufacturing Company Limited has a 12 month low of $84.10 and a 12 month high of $193.47. The company 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.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. The company had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.33 billion. Taiwan Semiconductor Manufacturing had a return on equity of 25.54% and a net margin of 37.85%. The business’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 EPS. As a group, sell-side analysts forecast 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. Shareholders of record on Thursday, December 12th will be paid a $0.4871 dividend. 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. The ex-dividend date is Thursday, December 12th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 37.71%.

Analysts Set New Price Targets

A number of research firms recently weighed in on TSM. Susquehanna restated a “positive” rating and issued a $250.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Wednesday, August 14th. Barclays boosted their price objective on Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. TD Cowen raised their target price on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Sanford C. Bernstein upped their price target on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Finally, 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 report on Monday, July 15th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $200.00.

Taiwan Semiconductor Manufacturing 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.