AMI Asset Management Corp Sells 20,838 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

by · The Cerbat Gem

AMI Asset Management Corp reduced its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM – Free Report) by 8.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,885 shares of the semiconductor company’s stock after selling 20,838 shares during the period. Taiwan Semiconductor Manufacturing makes up about 2.1% of AMI Asset Management Corp’s holdings, making the stock its 22nd largest holding. AMI Asset Management Corp’s holdings in Taiwan Semiconductor Manufacturing were worth $36,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. IMG Wealth Management Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth $26,000. Hopwood Financial Services Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth $27,000. Accredited Wealth Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth $31,000. City Holding Co. raised its position in shares of Taiwan Semiconductor Manufacturing by 238.0% in the first quarter. City Holding Co. now owns 169 shares of the semiconductor company’s stock worth $28,000 after buying an additional 119 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc raised its position in shares of Taiwan Semiconductor Manufacturing by 289.4% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company’s stock worth $36,000 after buying an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Trading Up 1.1%

NYSE TSM opened at $222.56 on Thursday. Taiwan Semiconductor Manufacturing Company Ltd. has a 1-year low of $133.57 and a 1-year high of $226.40. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average of $190.02 and a 200-day moving average of $189.89. The firm has a market cap of $1.15 trillion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 1.14 and a beta of 1.27.

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

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be paid a $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a dividend yield of 1.17%. Taiwan Semiconductor Manufacturing’s payout ratio is presently 30.59%.

Wall Street Analysts Forecast Growth

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

View Our Latest Research Report on TSM

Taiwan Semiconductor Manufacturing Company 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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