Legacy Wealth Asset Management LLC Cuts Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Legacy Wealth Asset Management LLC lowered its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,769 shares of the semiconductor company’s stock after selling 1,558 shares during the quarter. Taiwan Semiconductor Manufacturing makes up about 0.8% of Legacy Wealth Asset Management LLC’s holdings, making the stock its 16th biggest holding. Legacy Wealth Asset Management LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $2,826,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSM. Tsfg LLC lifted its stake in Taiwan Semiconductor Manufacturing by 470.7% during the first quarter. Tsfg LLC now owns 234 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 193 shares during the last quarter. Indiana Trust & Investment Management CO acquired a new stake in Taiwan Semiconductor Manufacturing during the first quarter worth approximately $33,000. Johnson Financial Group Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $25,000. Sachetta LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter valued at $29,000. Finally, First Financial Corp IN acquired a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter worth $40,000. Institutional investors and hedge funds own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM stock traded up $6.79 during midday trading on Thursday, hitting $182.49. The company had a trading volume of 11,808,737 shares, compared to its average volume of 15,203,722. Taiwan Semiconductor Manufacturing Company Limited has a 52-week low of $84.01 and a 52-week high of $184.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.39 and a quick ratio of 2.13. The company’s 50 day simple moving average is $158.44 and its 200 day simple moving average is $136.39. The stock has a market cap of $946.47 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 1.20 and a beta of 1.14.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, April 18th. The semiconductor company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.09. Taiwan Semiconductor Manufacturing had a net margin of 38.15% and a return on equity of 24.75%. The company had revenue of $18.87 billion for the quarter, compared to analysts’ expectations of $18.38 billion. Research analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.13 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Thursday, September 12th will be given a $0.4865 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.95 dividend on an annualized basis and a yield of 1.07%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 32.76%.

Wall Street Analyst Weigh In

Several research firms have issued reports on TSM. Susquehanna upped their price objective on shares of Taiwan Semiconductor Manufacturing from $180.00 to $200.00 and gave the company a “positive” rating in a research note on Monday, June 17th. StockNews.com upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. TD Cowen boosted their price objective on Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Thursday, April 18th. Needham & Company LLC restated a “buy” rating and set a $168.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, May 22nd. Finally, Barclays upped 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.60.

Taiwan Semiconductor Manufacturing Company Profile

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.