Shikiar Asset Management Inc. Has $11.25 Million Stock Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Shikiar Asset Management Inc. trimmed its stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 7.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,803 shares of the semiconductor company’s stock after selling 5,227 shares during the period. Taiwan Semiconductor Manufacturing accounts for about 3.0% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 9th largest position. Shikiar Asset Management Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $11,254,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its stake in shares of Taiwan Semiconductor Manufacturing by 53.4% in the first quarter. Van ECK Associates Corp now owns 17,416,194 shares of the semiconductor company’s stock worth $2,369,473,000 after purchasing an additional 6,060,511 shares during the period. Capital International Investors lifted its holdings 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 worth $2,679,602,000 after buying an additional 5,643,949 shares during the last quarter. PineStone Asset Management Inc. boosted its position in shares of Taiwan Semiconductor Manufacturing by 116.3% in the second quarter. PineStone Asset Management Inc. now owns 7,784,316 shares of the semiconductor company’s stock valued at $1,352,992,000 after acquiring an additional 4,186,133 shares during the period. Clearbridge Investments LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 669.7% in the second quarter. Clearbridge Investments LLC now owns 3,721,489 shares of the semiconductor company’s stock worth $646,832,000 after acquiring an additional 3,237,998 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its position in Taiwan Semiconductor Manufacturing by 1,226.7% during the second quarter. 1832 Asset Management L.P. now owns 1,983,830 shares of the semiconductor company’s stock worth $344,809,000 after acquiring an additional 1,834,298 shares during the period. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Stock Performance

NYSE:TSM opened at $190.81 on Friday. The company has a quick ratio of 2.21, a current ratio of 2.47 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $171.64 and a 200 day moving average price of $162.29. The firm has a market capitalization of $989.62 billion, a PE ratio of 34.13, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14. Taiwan Semiconductor Manufacturing Company Limited has a 12-month low of $84.95 and a 12-month high of $193.47.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its earnings results on Thursday, July 18th. The semiconductor company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.37 by $0.11. Taiwan Semiconductor Manufacturing had a return on equity of 25.54% and a net margin of 37.85%. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.33 billion. During the same quarter last year, the company earned $1.14 EPS. Taiwan Semiconductor Manufacturing’s revenue was up 34.6% on a year-over-year basis. Research analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 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 Thursday, January 9th. Investors 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 represents a $1.95 dividend on an annualized basis and a dividend yield of 1.02%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 35.24%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Susquehanna reissued a “positive” rating and issued a $250.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Wednesday, August 14th. Needham & Company LLC lifted 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. TD Cowen upped their price target on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Finally, Sanford C. Bernstein lifted 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.00.

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.