Wedmont Private Capital Sells 1,587 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Wedmont Private Capital reduced its position in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 20.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,316 shares of the semiconductor company’s stock after selling 1,587 shares during the quarter. Wedmont Private Capital’s holdings in Taiwan Semiconductor Manufacturing were worth $1,183,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TSM. Cadence Bank lifted its holdings 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 buying an additional 69 shares during the period. ZRC Wealth Management LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 20.9% in the 2nd quarter. ZRC Wealth Management LLC now owns 405 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 70 shares during the period. Toth Financial Advisory Corp grew its stake in Taiwan Semiconductor Manufacturing by 3.3% during the first quarter. Toth Financial Advisory Corp now owns 2,288 shares of the semiconductor company’s stock worth $311,000 after purchasing an additional 74 shares during the period. Joel Isaacson & Co. LLC increased its holdings in Taiwan Semiconductor Manufacturing by 2.5% in the first quarter. Joel Isaacson & Co. LLC now owns 3,048 shares of the semiconductor company’s stock worth $415,000 after purchasing an additional 74 shares in the last quarter. Finally, Principle Wealth Partners LLC lifted its stake in Taiwan Semiconductor Manufacturing by 1.3% in the first quarter. Principle Wealth Partners LLC now owns 5,940 shares of the semiconductor company’s stock valued at $808,000 after buying an additional 77 shares during the period. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Stock Up 2.5 %

Shares of TSM stock traded up $4.18 on Tuesday, hitting $171.81. The stock had a trading volume of 11,561,222 shares, compared to its average volume of 16,228,183. Taiwan Semiconductor Manufacturing Company Limited has a 12-month low of $84.01 and a 12-month high of $193.47. The business has a 50 day moving average of $170.31 and a 200 day moving average of $149.39. 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 stock has a market cap of $891.08 billion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 0.98 and a beta of 1.14.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. The firm had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.33 billion. Taiwan Semiconductor Manufacturing had a net margin of 37.85% and a return on equity of 25.89%. The company’s quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter last year, the business earned $1.14 earnings per share. As a group, analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.44 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on TSM. Susquehanna reaffirmed a “positive” rating and set a $250.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, August 6th. Sanford C. Bernstein increased their target price on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. TD Cowen increased their target price on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Needham & Company LLC increased their target price on shares of Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Barclays increased their target price on shares of Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, 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.