Grimes & Company Inc. cut its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 15.5% during the second quarter, Holdings Channel reports. The institutional investor owned 165,738 shares of the semiconductor company’s stock after selling 30,502 shares during the period. Grimes & Company Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $5,794,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Pictet & Cie Europe SA bought a new position in shares of Taiwan Semiconductor Manufacturing during the first quarter valued at approximately $134,000. Pictet North America Advisors SA acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter valued at $166,000. Advisory Services Network LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter valued at $184,000. U S Global Investors Inc acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter valued at $187,000. Finally, Ingalls & Snyder LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter valued at $205,000. Hedge funds and other institutional investors own 19.81% of the company’s stock.

Taiwan Semiconductor Manufacturing Company Ltd. (TSM) traded down 0.11% during midday trading on Tuesday, hitting $35.87. 2,208,213 shares of the company traded hands. Taiwan Semiconductor Manufacturing Company Ltd. has a 12-month low of $26.97 and a 12-month high of $36.92. The company has a market cap of $186.02 billion, a PE ratio of 16.23 and a beta of 0.76. The stock has a 50 day moving average price of $35.71 and a 200-day moving average price of $32.54.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Thursday, July 13th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 25.75% and a net margin of 36.11%. The company had revenue of $213.86 billion for the quarter, compared to the consensus estimate of $214.25 billion. During the same period in the previous year, the company earned $2.80 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post $2.16 EPS for the current year.

The company also recently announced an annual dividend, which will be paid on Thursday, July 20th. Investors of record on Wednesday, June 28th will be paid a $0.927 dividend. This represents a dividend yield of 3.25%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous annual dividend of $0.74. The ex-dividend date is Monday, June 26th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 43.06%.

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Several brokerages recently weighed in on TSM. HSBC Holdings plc downgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Zacks Investment Research cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “sell” rating in a research note on Tuesday. Credit Suisse Group cut shares of Taiwan Semiconductor Manufacturing from an “outperform” rating to a “neutral” rating in a research note on Monday, May 15th. BidaskClub cut shares of Taiwan Semiconductor Manufacturing from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Finally, Rosenblatt Securities set a $27.00 target price on shares of Taiwan Semiconductor Manufacturing and gave the stock a “buy” rating in a research note on Saturday, April 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.67.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Company Limited (TSMC) is a semiconductor foundry. The Company is engaged in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices and the manufacturing of masks. It operates through foundry segment.

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Institutional Ownership by Quarter for Taiwan Semiconductor Manufacturing (NYSE:TSM)

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