The Manufacturers Life Insurance Company Sells 616,481 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

The Manufacturers Life Insurance Company reduced its holdings in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 29.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,492,109 shares of the semiconductor company’s stock after selling 616,481 shares during the period. The Manufacturers Life Insurance Company’s holdings in Taiwan Semiconductor Manufacturing were worth $259,339,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TSM. Van ECK Associates Corp grew its holdings in shares of Taiwan Semiconductor Manufacturing by 53.4% during the 1st quarter. Van ECK Associates Corp now owns 17,416,194 shares of the semiconductor company’s stock valued at $2,369,473,000 after purchasing an additional 6,060,511 shares during the last quarter. Capital International Investors boosted its position in Taiwan Semiconductor Manufacturing by 40.2% during the first quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock valued at $2,679,602,000 after buying an additional 5,643,949 shares during the period. Capital World Investors grew its stake in shares of Taiwan Semiconductor Manufacturing by 11.4% during the fourth quarter. Capital World Investors now owns 41,356,279 shares of the semiconductor company’s stock valued at $4,301,178,000 after buying an additional 4,240,928 shares during the last quarter. PineStone Asset Management Inc. increased its holdings in shares of Taiwan Semiconductor Manufacturing by 116.3% in the second quarter. PineStone Asset Management Inc. now owns 7,784,316 shares of the semiconductor company’s stock worth $1,352,992,000 after buying an additional 4,186,133 shares during the period. Finally, Harding Loevner LP boosted its holdings in Taiwan Semiconductor Manufacturing by 20.9% during the 4th quarter. Harding Loevner LP now owns 11,616,715 shares of the semiconductor company’s stock valued at $1,222,768,000 after acquiring an additional 2,008,043 shares during the period. 16.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TSM. Needham & Company LLC increased their price objective 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. Susquehanna restated a “positive” rating and issued a $250.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, August 14th. Sanford C. Bernstein increased 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. TD Cowen boosted 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. Finally, Barclays increased 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Taiwan Semiconductor Manufacturing presently has an average rating of “Moderate Buy” and a consensus target price of $200.00.

Taiwan Semiconductor Manufacturing Price Performance

Shares of NYSE TSM opened at $186.79 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.47 and a quick ratio of 2.21. Taiwan Semiconductor Manufacturing Company Limited has a 1 year low of $84.10 and a 1 year high of $193.47. The company’s 50-day moving average is $167.26 and its 200 day moving average is $158.91. The stock has a market capitalization of $968.77 billion, a P/E ratio of 35.58, a P/E/G ratio of 1.07 and a beta of 1.14.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results 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 firm had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.33 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The business’s revenue was up 34.6% compared to the same quarter last year. On average, sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.4871 per share. This represents a $1.95 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Thursday, December 12th. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s payout ratio is 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.