CIBC Asset Management Inc Cuts Holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

CIBC Asset Management Inc lowered its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM – Get Rating) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,942 shares of the semiconductor company’s stock after selling 3,271 shares during the quarter. CIBC Asset Management Inc’s holdings in Taiwan Semiconductor Manufacturing were worth $3,013,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TSM. Cetera Advisor Networks LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 0.5% in the 2nd quarter. Cetera Advisor Networks LLC now owns 72,300 shares of the semiconductor company’s stock worth $5,910,000 after purchasing an additional 343 shares in the last quarter. American National Bank raised its stake in shares of Taiwan Semiconductor Manufacturing by 52.5% during the third quarter. American National Bank now owns 1,432 shares of the semiconductor company’s stock worth $98,000 after acquiring an additional 493 shares in the last quarter. King Luther Capital Management Corp raised its stake in shares of Taiwan Semiconductor Manufacturing by 152.0% during the second quarter. King Luther Capital Management Corp now owns 8,242 shares of the semiconductor company’s stock worth $674,000 after acquiring an additional 4,972 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Taiwan Semiconductor Manufacturing by 26.4% in the 2nd quarter. Assetmark Inc. now owns 61,953 shares of the semiconductor company’s stock valued at $5,065,000 after purchasing an additional 12,922 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 6.7% during the 3rd quarter. Ballentine Partners LLC now owns 14,244 shares of the semiconductor company’s stock valued at $977,000 after purchasing an additional 896 shares during the last quarter. 16.79% of the stock is owned by institutional investors.

Taiwan Semiconductor Manufacturing Stock Performance

Taiwan Semiconductor Manufacturing stock opened at $94.56 on Wednesday. The stock’s 50 day simple moving average is $80.72 and its two-hundred day simple moving average is $78.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.22 and a current ratio of 2.49. The stock has a market cap of $490.42 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.85 and a beta of 1.06. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $59.43 and a fifty-two week high of $128.66.

Taiwan Semiconductor Manufacturing Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, April 13th. Investors of record on Friday, March 17th will be paid a $0.3392 dividend. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $4.07 annualized dividend and a dividend yield of 4.30%. Taiwan Semiconductor Manufacturing’s payout ratio is 21.49%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TSM. Cowen lowered their price target on shares of Taiwan Semiconductor Manufacturing to $75.00 in a research note on Thursday, October 20th. StockNews.com began coverage on Taiwan Semiconductor Manufacturing in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. The Goldman Sachs Group downgraded shares of Taiwan Semiconductor Manufacturing from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, October 13th. Erste Group Bank raised shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Friday, November 18th. Finally, TheStreet downgraded shares of Taiwan Semiconductor Manufacturing from a “b-” rating to a “c+” rating in a research note on Friday, November 4th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Taiwan Semiconductor Manufacturing Profile

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Taiwan Semiconductor Manufacturing Co, Ltd. engages in the manufacture and sale of integrated circuits and wafer semiconductor devices. Its chips are used in personal computers and peripheral products, information applications, wired and wireless communications systems products, and automotive and industrial equipment including consumer electronics such as digital video compact disc player, digital television, game consoles, and digital cameras.