Pzena Investment Management LLC Lowers Stock Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Pzena Investment Management LLC lessened its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 11.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 57,582 shares of the semiconductor company’s stock after selling 7,786 shares during the quarter. Pzena Investment Management LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $10,000,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in Taiwan Semiconductor Manufacturing by 0.7% during the third quarter. Van ECK Associates Corp now owns 18,289,993 shares of the semiconductor company’s stock worth $3,176,423,000 after buying an additional 122,828 shares during the period. WCM Investment Management LLC boosted its stake in shares of Taiwan Semiconductor Manufacturing by 14.1% in the third quarter. WCM Investment Management LLC now owns 9,738,181 shares of the semiconductor company’s stock valued at $1,733,104,000 after purchasing an additional 1,206,359 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Taiwan Semiconductor Manufacturing by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,873,873 shares of the semiconductor company’s stock valued at $1,071,242,000 after purchasing an additional 296,892 shares during the period. PineStone Asset Management Inc. boosted its stake 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 purchasing an additional 4,186,133 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Taiwan Semiconductor Manufacturing by 2.9% in the second quarter. American Century Companies Inc. now owns 4,519,925 shares of the semiconductor company’s stock valued at $785,608,000 after purchasing an additional 128,078 shares during the period. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Stock Down 0.7 %

Shares of NYSE:TSM opened at $188.41 on Thursday. The firm’s 50 day moving average price is $187.19 and its 200 day moving average price is $173.23. The stock has a market cap of $977.17 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 0.87 and a beta of 1.12. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $95.25 and a fifty-two week high of $212.60. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.44%. The company had revenue of $23.50 billion for the quarter, compared to analysts’ expectations of $22.72 billion. As a group, equities research analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.5484 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.19 dividend on an annualized basis and a yield of 1.16%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 31.57%.

Analysts Set New Price Targets

TSM has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, October 17th. Barclays raised their price objective on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the company an “overweight” rating in a research note on Monday. StockNews.com cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $214.00.

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.