Cabot Wealth Management Inc. Sells 7,134 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

by · The Cerbat Gem

Cabot Wealth Management Inc. decreased its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM – Free Report) by 6.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,187 shares of the semiconductor company’s stock after selling 7,134 shares during the period. Taiwan Semiconductor Manufacturing accounts for approximately 2.4% of Cabot Wealth Management Inc.’s holdings, making the stock its 11th largest position. Cabot Wealth Management Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $18,623,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Tallon Kerry Patrick bought a new position in Taiwan Semiconductor Manufacturing during the fourth quarter worth about $228,000. LaFleur & Godfrey LLC bought a new position in Taiwan Semiconductor Manufacturing during the fourth quarter worth about $221,000. Brighton Jones LLC grew its holdings in Taiwan Semiconductor Manufacturing by 20.9% during the fourth quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company’s stock worth $2,159,000 after purchasing an additional 1,892 shares during the period. Union Bancaire Privee UBP SA bought a new position in Taiwan Semiconductor Manufacturing during the fourth quarter worth about $91,830,000. Finally, Strategic Financial Concepts LLC bought a new position in Taiwan Semiconductor Manufacturing during the fourth quarter worth about $354,000. Institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Trading Down 1.8%

Shares of NYSE:TSM opened at $209.71 on Friday. Taiwan Semiconductor Manufacturing Company Ltd. has a 12-month low of $133.57 and a 12-month high of $226.40. The stock has a market cap of $1.09 trillion, a PE ratio of 26.96, a P/E/G ratio of 1.11 and a beta of 1.27. The business has a 50 day moving average of $186.25 and a 200-day moving average of $189.58. The company has a quick ratio of 2.18, a current ratio of 2.39 and a debt-to-equity ratio of 0.22.

Taiwan Semiconductor Manufacturing (NYSE:TSM – Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. The company had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $834.10 billion. As a group, equities research analysts forecast that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be given a $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.24%. Taiwan Semiconductor Manufacturing’s payout ratio is 30.59%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Susquehanna lifted their price target on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a “positive” rating in a report on Tuesday. Barclays reiterated an “overweight” rating and set a $240.00 price target (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.50.

View Our Latest Stock Report on TSM

Taiwan Semiconductor Manufacturing Profile

(Free Report)

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.

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