Pzena Investment Management LLC Cuts Stock Holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Pzena Investment Management LLC decreased its holdings in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 86.3% during the first quarter, HoldingsChannel reports. The firm owned 76,068 shares of the semiconductor company’s stock after selling 480,731 shares during the period. Pzena Investment Management LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $10,349,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Van ECK Associates Corp boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 53.4% in the 1st quarter. Van ECK Associates Corp now owns 17,416,194 shares of the semiconductor company’s stock valued at $2,369,473,000 after buying an additional 6,060,511 shares in the last quarter. Capital World Investors boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 11.4% in the 4th quarter. Capital World Investors now owns 41,356,279 shares of the semiconductor company’s stock valued at $4,301,178,000 after buying an additional 4,240,928 shares in the last quarter. Harding Loevner LP boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 20.9% in the 4th quarter. Harding Loevner LP now owns 11,616,715 shares of the semiconductor company’s stock valued at $1,222,768,000 after buying an additional 2,008,043 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 6.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 28,443,595 shares of the semiconductor company’s stock valued at $2,958,134,000 after buying an additional 1,649,279 shares in the last quarter. Finally, Sanders Capital LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 3.5% in the 4th quarter. Sanders Capital LLC now owns 44,527,327 shares of the semiconductor company’s stock valued at $4,630,842,000 after buying an additional 1,501,548 shares in the last quarter. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Price Performance

NYSE TSM traded up $6.49 on Wednesday, hitting $191.01. The company had a trading volume of 19,253,915 shares, compared to its average volume of 15,117,953. The company has a market capitalization of $990.66 billion, a PE ratio of 35.95, a PEG ratio of 1.28 and a beta of 1.14. The company’s fifty day moving average price is $162.18 and its 200-day moving average price is $138.94. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.39 and a quick ratio of 2.13. Taiwan Semiconductor Manufacturing Company Limited has a 12-month low of $84.01 and a 12-month high of $192.80.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings results on Thursday, April 18th. The semiconductor company reported $1.38 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $18.38 billion. As a group, analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.13 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Thursday, September 12th will be given a dividend of $0.4865 per share. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.95 annualized dividend and a dividend yield of 1.02%. Taiwan Semiconductor Manufacturing’s payout ratio is presently 32.57%.

Analyst Ratings Changes

A number of analysts have recently weighed in on TSM shares. Sanford C. Bernstein raised their price target on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, June 20th. StockNews.com upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. TD Cowen lifted their price objective on shares of 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 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Wednesday, May 22nd. Finally, Susquehanna lifted 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and a consensus target price 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.