Truist Financial Corp Acquires 29,084 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Truist Financial Corp raised its holdings in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 6.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 490,197 shares of the semiconductor company’s stock after purchasing an additional 29,084 shares during the period. Truist Financial Corp’s holdings in Taiwan Semiconductor Manufacturing were worth $85,201,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Seed Wealth Management Inc. increased its stake in shares of Taiwan Semiconductor Manufacturing by 1.3% during the second quarter. Seed Wealth Management Inc. now owns 4,558 shares of the semiconductor company’s stock valued at $792,000 after purchasing an additional 57 shares in the last quarter. Keudell Morrison Wealth Management increased its stake in shares of Taiwan Semiconductor Manufacturing by 1.5% during the second quarter. Keudell Morrison Wealth Management now owns 4,027 shares of the semiconductor company’s stock valued at $700,000 after purchasing an additional 59 shares in the last quarter. Heron Bay Capital Management increased its stake in shares of Taiwan Semiconductor Manufacturing by 1.0% during the second quarter. Heron Bay Capital Management now owns 5,710 shares of the semiconductor company’s stock valued at $992,000 after purchasing an additional 59 shares in the last quarter. Clifford Swan Investment Counsel LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 1.4% during the second quarter. Clifford Swan Investment Counsel LLC now owns 4,798 shares of the semiconductor company’s stock valued at $834,000 after purchasing an additional 66 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 0.4% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 17,733 shares of the semiconductor company’s stock valued at $3,082,000 after acquiring an additional 66 shares in the last quarter. Institutional investors own 16.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on TSM. TD Cowen raised their price target on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Barclays raised their price target 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. Needham & Company LLC raised their price target 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. Sanford C. Bernstein raised their price target on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. Finally, 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. One equities research 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 stock has a consensus rating of “Moderate Buy” and an average target price of $200.00.

Taiwan Semiconductor Manufacturing Trading Down 0.9 %

NYSE:TSM opened at $172.07 on Wednesday. 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 $84.95 and a 12 month high of $193.47. The company has a market cap of $892.43 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 1.04 and a beta of 1.14. The company has a 50 day simple moving average of $167.63 and a two-hundred day simple moving average of $159.89.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.11. The business had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.33 billion. Taiwan Semiconductor Manufacturing had a net margin of 37.85% and a return on equity of 25.54%. The company’s revenue was up 34.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 EPS. Research 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be paid a dividend of $0.4871 per share. This represents a $1.95 annualized dividend and a dividend yield of 1.13%. 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 dividend payout ratio (DPR) is currently 36.95%.

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.