Victory Capital Management Inc. Sells 15,134 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Victory Capital Management Inc. cut its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 23.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 48,446 shares of the semiconductor company’s stock after selling 15,134 shares during the period. Victory Capital Management Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $8,420,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TSM. Denver PWM LLC bought a new position in Taiwan Semiconductor Manufacturing in the 2nd quarter valued at approximately $112,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Taiwan Semiconductor Manufacturing during the second quarter valued at $15,447,000. Waverton Investment Management Ltd boosted its position in shares of Taiwan Semiconductor Manufacturing by 3.9% during the second quarter. Waverton Investment Management Ltd now owns 741,328 shares of the semiconductor company’s stock valued at $128,869,000 after buying an additional 27,851 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in Taiwan Semiconductor Manufacturing by 0.3% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 157,667 shares of the semiconductor company’s stock worth $27,404,000 after buying an additional 434 shares in the last quarter. Finally, First Dallas Securities Inc. raised its position in Taiwan Semiconductor Manufacturing by 46.4% in the 2nd quarter. First Dallas Securities Inc. now owns 11,678 shares of the semiconductor company’s stock worth $2,030,000 after buying an additional 3,701 shares during the last quarter. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Price Performance

TSM stock opened at $172.50 on Monday. 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 company’s fifty day moving average price is $168.64 and its 200-day moving average price is $156.87. Taiwan Semiconductor Manufacturing Company Limited has a one year low of $84.01 and a one year high of $193.47. The company has a market capitalization of $894.66 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 1.00 and a beta of 1.14.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings data on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $20.33 billion. During the same period in the prior year, the firm earned $1.14 EPS. The company’s revenue for the quarter was up 34.6% on a year-over-year basis. On average, equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 EPS 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. Investors of record on Thursday, December 12th will be issued a dividend of $0.4871 per share. This represents a $1.95 annualized dividend and a yield of 1.13%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, December 12th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 37.71%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Needham & Company LLC boosted their price objective on shares of Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the company a “buy” rating in a report on Monday, July 15th. TD Cowen increased their price target on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Barclays lifted 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. Sanford C. Bernstein increased their target price on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, June 20th. Finally, Susquehanna restated a “positive” rating and set a $250.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Taiwan Semiconductor Manufacturing presently has an average rating of “Moderate Buy” and an average target price of $200.00.

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.