Destination Wealth Management Acquires Shares of 1,739 Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Destination Wealth Management bought a new position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,739 shares of the semiconductor company’s stock, valued at approximately $302,000.

Several other institutional investors also recently modified their holdings of the business. Seed Wealth Management Inc. boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 1.3% in the 2nd quarter. Seed Wealth Management Inc. now owns 4,558 shares of the semiconductor company’s stock worth $792,000 after buying an additional 57 shares during the last quarter. Keudell Morrison Wealth Management increased its stake in shares of Taiwan Semiconductor Manufacturing by 1.5% during the 2nd quarter. Keudell Morrison Wealth Management now owns 4,027 shares of the semiconductor company’s stock worth $700,000 after purchasing an additional 59 shares during the last quarter. Cadence Bank lifted its stake in Taiwan Semiconductor Manufacturing by 0.5% in the first quarter. Cadence Bank now owns 15,004 shares of the semiconductor company’s stock valued at $2,041,000 after purchasing an additional 69 shares during the last quarter. ZRC Wealth Management LLC increased its position in Taiwan Semiconductor Manufacturing by 20.9% in the second quarter. ZRC Wealth Management LLC now owns 405 shares of the semiconductor company’s stock worth $70,000 after buying an additional 70 shares during the last quarter. Finally, Old Port Advisors raised its stake in shares of Taiwan Semiconductor Manufacturing by 2.9% in the second quarter. Old Port Advisors now owns 2,546 shares of the semiconductor company’s stock valued at $443,000 after buying an additional 71 shares during the period. 16.51% of the stock is owned by institutional investors.

Taiwan Semiconductor Manufacturing Price Performance

Shares of Taiwan Semiconductor Manufacturing stock traded up $4.84 during trading on Friday, hitting $171.28. The stock had a trading volume of 12,189,133 shares, compared to its average volume of 16,057,435. The firm has a market cap of $888.33 billion, a price-to-earnings ratio of 32.62, a P/E/G ratio of 1.02 and a beta of 1.14. Taiwan Semiconductor Manufacturing Company Limited has a 12 month low of $84.01 and a 12 month high of $193.47. The business’s 50-day moving average is $171.38 and its 200 day moving average is $152.66. The company has a current ratio of 2.47, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.11. The firm had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.33 billion. Taiwan Semiconductor Manufacturing had a return on equity of 25.54% and a net margin of 37.85%. The company’s revenue was up 34.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 EPS. As a group, sell-side analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.4871 per share. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $1.95 annualized dividend and a yield of 1.14%. Taiwan Semiconductor Manufacturing’s payout ratio is presently 36.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. TD Cowen boosted their price objective on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Sanford C. Bernstein raised their price objective on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Susquehanna reiterated a “positive” rating and issued a $250.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Wednesday, August 14th. Needham & Company LLC increased their target price on Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Barclays lifted their price target on 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 analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.00.

Taiwan Semiconductor Manufacturing 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.