Evelyn Partners Asset Management Ltd Buys 5,111 Shares of Taiwan Semiconductor Manufacturing Company Ltd. $TSM

Evelyn Partners Asset Management Ltd boosted its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 27.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 23,550 shares of the semiconductor company’s stock after purchasing an additional 5,111 shares during the quarter. Taiwan Semiconductor Manufacturing comprises 2.0% of Evelyn Partners Asset Management Ltd’s holdings, making the stock its 17th largest position. Evelyn Partners Asset Management Ltd’s holdings in Taiwan Semiconductor Manufacturing were worth $7,959,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fisher Asset Management LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 1.8% in the 4th quarter. Fisher Asset Management LLC now owns 18,146,900 shares of the semiconductor company’s stock worth $5,514,662,000 after purchasing an additional 313,773 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Taiwan Semiconductor Manufacturing by 11.1% during the 4th quarter. Van ECK Associates Corp now owns 17,464,962 shares of the semiconductor company’s stock valued at $5,307,428,000 after purchasing an additional 1,750,824 shares during the last quarter. Bank of America Corp DE lifted its holdings in Taiwan Semiconductor Manufacturing by 6.5% during the 4th quarter. Bank of America Corp DE now owns 15,902,819 shares of the semiconductor company’s stock valued at $4,832,708,000 after purchasing an additional 966,926 shares during the last quarter. Jennison Associates LLC boosted its position in Taiwan Semiconductor Manufacturing by 6.4% in the fourth quarter. Jennison Associates LLC now owns 13,394,299 shares of the semiconductor company’s stock valued at $4,070,393,000 after buying an additional 802,757 shares in the last quarter. Finally, Coatue Management LLC boosted its position in Taiwan Semiconductor Manufacturing by 6.9% in the fourth quarter. Coatue Management LLC now owns 8,629,524 shares of the semiconductor company’s stock valued at $2,622,426,000 after buying an additional 556,988 shares in the last quarter. 16.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TSM. Weiss Ratings cut shares of Taiwan Semiconductor Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, July 13th. DA Davidson lifted their target price on shares of Taiwan Semiconductor Manufacturing from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Bank of America boosted their target price on Taiwan Semiconductor Manufacturing from $490.00 to $590.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Monday, July 6th. Finally, Needham & Company LLC raised their price target on Taiwan Semiconductor Manufacturing from $480.00 to $530.00 and gave the company a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $496.25.

Insider Activity

In related news, VP Bor-Zen Tien purchased 1,000 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was acquired at an average price of $76.64 per share, with a total value of $76,640.00. Following the completion of the acquisition, the vice president directly owned 12,051 shares in the company, valued at approximately $923,588.64. This trade represents a 9.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lipen Yuan acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of $79.19 per share, with a total value of $79,190.00. Following the transaction, the vice president directly owned 5,000 shares in the company, valued at $395,950. The trade was a 25.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 6,857 shares of company stock valued at $512,334 over the last three months. 1.11% of the stock is owned by insiders.

Taiwan Semiconductor Manufacturing Stock Down 0.9%

Shares of NYSE TSM opened at $399.94 on Tuesday. The firm’s 50-day simple moving average is $427.75 and its 200 day simple moving average is $382.65. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 0.93 and a beta of 1.36. The company has a quick ratio of 2.31, a current ratio of 2.49 and a debt-to-equity ratio of 0.16. Taiwan Semiconductor Manufacturing Company Ltd. has a 12-month low of $223.70 and a 12-month high of $479.00.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings data on Tuesday, June 30th. The semiconductor company reported $4.28 earnings per share for the quarter. The firm had revenue of $39.89 billion during the quarter. Taiwan Semiconductor Manufacturing had a net margin of 50.31% and a return on equity of 40.88%. On average, research analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 16.34 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $1.1136 per share. This represents a $4.45 annualized dividend and a dividend yield of 1.1%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Wednesday, September 16th. Taiwan Semiconductor Manufacturing’s payout ratio is currently 21.43%.

Taiwan Semiconductor Manufacturing Profile

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC’s service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.