Drake & Associates LLC Purchases 247 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Drake & Associates LLC lifted its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 9.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,776 shares of the semiconductor company’s stock after purchasing an additional 247 shares during the period. Drake & Associates LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $461,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. FMR LLC increased its holdings in Taiwan Semiconductor Manufacturing by 4.6% during the fourth quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company’s stock worth $11,562,498,000 after buying an additional 2,572,488 shares during the last quarter. Sanders Capital LLC increased its holdings in Taiwan Semiconductor Manufacturing by 0.6% during the fourth quarter. Sanders Capital LLC now owns 41,877,457 shares of the semiconductor company’s stock worth $8,270,379,000 after buying an additional 231,310 shares during the last quarter. Capital World Investors increased its holdings in Taiwan Semiconductor Manufacturing by 0.8% during the fourth quarter. Capital World Investors now owns 35,602,400 shares of the semiconductor company’s stock worth $7,031,632,000 after buying an additional 294,316 shares during the last quarter. Capital International Investors increased its holdings in Taiwan Semiconductor Manufacturing by 8.2% during the fourth quarter. Capital International Investors now owns 22,210,222 shares of the semiconductor company’s stock worth $4,391,957,000 after buying an additional 1,683,256 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Taiwan Semiconductor Manufacturing by 67.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company’s stock worth $2,047,065,000 after buying an additional 4,158,772 shares during the last quarter. 16.51% of the stock is owned by institutional investors.

Taiwan Semiconductor Manufacturing Price Performance

Shares of Taiwan Semiconductor Manufacturing stock opened at $235.49 on Friday. Taiwan Semiconductor Manufacturing Company Ltd. has a 52-week low of $133.57 and a 52-week high of $237.58. The stock has a market capitalization of $1.22 trillion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 1.22 and a beta of 1.29. The company has a fifty day moving average of $200.39 and a 200-day moving average of $191.44. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.18 and a current ratio of 2.39.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.09. The company had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $834.10 billion. Taiwan Semiconductor Manufacturing had a net margin of 41.67% and a return on equity of 31.43%. Equities research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.6499 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a yield of 1.10%. Taiwan Semiconductor Manufacturing’s payout ratio is currently 33.42%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TSM. Needham & Company LLC raised their price objective on shares of Taiwan Semiconductor Manufacturing from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, July 1st. Susquehanna raised their price objective on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a “positive” rating in a report on Tuesday, June 17th. Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Finally, Barclays restated an “overweight” rating and set a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $233.75.

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.