State of Michigan Retirement System Lowers Holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

State of Michigan Retirement System reduced its holdings in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 13.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 242,600 shares of the semiconductor company’s stock after selling 39,000 shares during the period. State of Michigan Retirement System’s holdings in Taiwan Semiconductor Manufacturing were worth $33,006,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in TSM. Capital World Investors increased its holdings in Taiwan Semiconductor Manufacturing by 11.4% during the 4th quarter. Capital World Investors now owns 41,356,279 shares of the semiconductor company’s stock worth $4,301,178,000 after purchasing an additional 4,240,928 shares during the period. Morgan Stanley boosted its stake in shares of Taiwan Semiconductor Manufacturing by 11.2% in the 3rd quarter. Morgan Stanley now owns 23,804,180 shares of the semiconductor company’s stock valued at $2,068,583,000 after buying an additional 2,400,882 shares during the period. Harding Loevner LP grew 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 worth $1,222,768,000 after buying an additional 2,008,043 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Taiwan Semiconductor Manufacturing by 6.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 28,443,595 shares of the semiconductor company’s stock worth $2,958,134,000 after buying an additional 1,649,279 shares during the period. Finally, Sanders Capital LLC raised its holdings in Taiwan Semiconductor Manufacturing by 3.5% in the fourth quarter. Sanders Capital LLC now owns 44,527,327 shares of the semiconductor company’s stock valued at $4,630,842,000 after acquiring an additional 1,501,548 shares in the last quarter. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM stock traded up $3.29 during mid-day trading on Tuesday, hitting $175.62. 10,646,245 shares of the stock were exchanged, compared to its average volume of 15,043,256. The stock’s fifty day simple moving average is $156.61 and its two-hundred day simple moving average is $135.55. The stock has a market capitalization of $910.84 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 1.19 and a beta of 1.14. Taiwan Semiconductor Manufacturing Company Limited has a 12-month low of $84.01 and a 12-month high of $184.86. 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 (NYSE:TSM) last announced its earnings results on Thursday, April 18th. The semiconductor company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.09. Taiwan Semiconductor Manufacturing had a return on equity of 24.75% and a net margin of 38.15%. The firm had revenue of $18.87 billion during the quarter, compared to analysts’ expectations of $18.38 billion. On average, analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.13 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Thursday, September 12th will be given a $0.4865 dividend. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.95 annualized dividend and a yield of 1.11%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 32.76%.

Analysts Set New Price Targets

Several research analysts have commented on TSM shares. Sanford C. Bernstein boosted their price target on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Needham & Company LLC reissued a “buy” rating and issued a $168.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Wednesday, May 22nd. TD Cowen lifted their price target on Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the stock a “hold” rating in a report on Thursday, April 18th. StockNews.com raised Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Finally, Barclays raised their target price on Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and an average target price of $173.60.

About Taiwan Semiconductor Manufacturing

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.