Maverick Capital Ltd. Sells 421,292 Shares of Taiwan Semiconductor Manufacturing Company Ltd. $TSM

Maverick Capital Ltd. lowered its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 25.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,237,358 shares of the semiconductor company’s stock after selling 421,292 shares during the quarter. Taiwan Semiconductor Manufacturing comprises approximately 4.8% of Maverick Capital Ltd.’s investment portfolio, making the stock its 3rd largest holding. Maverick Capital Ltd.’s holdings in Taiwan Semiconductor Manufacturing were worth $418,165,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Fisher Asset Management LLC raised 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 acquiring an additional 313,773 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 11.1% in the fourth 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 in the last quarter. Bank of America Corp DE boosted its position in shares of Taiwan Semiconductor Manufacturing by 6.5% during the fourth 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 buying an additional 966,926 shares during the last quarter. Jennison Associates LLC grew its holdings in Taiwan Semiconductor Manufacturing by 6.4% during the fourth quarter. Jennison Associates LLC now owns 13,394,299 shares of the semiconductor company’s stock worth $4,070,393,000 after buying an additional 802,757 shares in the last quarter. Finally, Coatue Management LLC lifted its stake in Taiwan Semiconductor Manufacturing by 6.9% during the 4th quarter. Coatue Management LLC now owns 8,629,524 shares of the semiconductor company’s stock valued at $2,622,426,000 after acquiring an additional 556,988 shares in the last quarter. Institutional investors and hedge funds own 16.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TSM shares. Needham & Company LLC upped their price objective on Taiwan Semiconductor Manufacturing from $480.00 to $530.00 and gave the company a “buy” rating in a research note on Monday. DA Davidson boosted 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 increased their target price on shares of Taiwan Semiconductor Manufacturing from $490.00 to $590.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. TD Cowen raised their price target on shares of Taiwan Semiconductor Manufacturing from $400.00 to $440.00 and gave the stock a “hold” rating in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded Taiwan Semiconductor Manufacturing from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $496.25.

Insider Activity at Taiwan Semiconductor Manufacturing

In other news, VP Lipen Yuan purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $79.19 per share, for a total transaction of $79,190.00. Following the purchase, the vice president directly owned 5,000 shares in the company, valued at approximately $395,950. This trade represents a 25.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Tzu-Sou Chuang sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $69.83, for a total transaction of $13,966,000.00. Following the sale, the vice president owned 2,495,165 shares of the company’s stock, valued at approximately $174,237,371.95. This represents a 7.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders acquired a total of 6,857 shares of company stock valued at $512,334 in the last three months. Company insiders own 1.11% of the company’s stock.

Taiwan Semiconductor Manufacturing Price Performance

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

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Tuesday, June 30th. The semiconductor company reported $4.28 earnings per share for the quarter. The company had revenue of $39.89 billion for the quarter. Taiwan Semiconductor Manufacturing had a return on equity of 40.88% and a net margin of 50.31%. On average, equities research analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 16.34 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 Thursday, October 8th. Shareholders of record on Wednesday, September 16th will be issued a $1.1136 dividend. This represents a $4.45 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.95. The ex-dividend date is Wednesday, September 16th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 21.43%.

Taiwan Semiconductor Manufacturing Company 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.