Earnest Partners LLC Sells 24,752 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Earnest Partners LLC reduced its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 7.3% during the first quarter, HoldingsChannel reports. The fund owned 313,453 shares of the semiconductor company’s stock after selling 24,752 shares during the quarter. Earnest Partners LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $42,645,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in shares of Taiwan Semiconductor Manufacturing by 53.4% during the first 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 during the period. Capital International Investors increased its position in shares of Taiwan Semiconductor Manufacturing by 40.2% during the first quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock valued at $2,679,602,000 after buying an additional 5,643,949 shares during the period. Capital World Investors increased its position in shares of Taiwan Semiconductor Manufacturing by 11.4% during the fourth 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 during the period. Harding Loevner LP increased its position in shares of Taiwan Semiconductor Manufacturing by 20.9% during the fourth 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 during the period. Finally, GQG Partners LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 25.1% during the first quarter. GQG Partners LLC now owns 8,538,277 shares of the semiconductor company’s stock valued at $1,161,633,000 after buying an additional 1,710,673 shares during the period. 16.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TSM has been the subject of several recent analyst reports. Needham & Company LLC boosted their price objective on Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. StockNews.com raised Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. TD Cowen boosted their price objective on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Sanford C. Bernstein boosted their price objective on Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Finally, Barclays boosted their price objective on Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.00.

Taiwan Semiconductor Manufacturing Price Performance

TSM traded down $1.97 during midday trading on Monday, hitting $159.97. The stock had a trading volume of 12,642,004 shares, compared to its average volume of 15,813,071. The company has a market cap of $829.67 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 0.96 and a beta of 1.14. The business has a fifty day moving average of $169.66 and a 200 day moving average of $145.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.39. Taiwan Semiconductor Manufacturing Company Limited has a 1 year low of $84.01 and a 1 year high of $193.47.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.11. The business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.33 billion. Taiwan Semiconductor Manufacturing had a return on equity of 25.89% and a net margin of 37.85%. Taiwan Semiconductor Manufacturing’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. As a group, equities analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.37 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Thursday, September 12th will be paid a $0.4865 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.95 annualized dividend and a yield of 1.22%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 32.57%.

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.