Pitcairn Co. Trims Stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Pitcairn Co. reduced its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 2.8% in the 3rd quarter, Holdings Channel reports. The fund owned 28,302 shares of the semiconductor company’s stock after selling 824 shares during the period. Pitcairn Co.’s holdings in Taiwan Semiconductor Manufacturing were worth $4,915,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $25,000. Reston Wealth Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the third quarter valued at approximately $25,000. Olistico Wealth LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $27,000. Valley Wealth Managers Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $27,000. Finally, NewSquare Capital LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $29,000. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on TSM shares. Needham & Company LLC restated a “buy” rating and issued a $210.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, October 17th. StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Barclays lifted their price target on Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Finally, Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.00.

Taiwan Semiconductor Manufacturing Stock Performance

NYSE TSM opened at $190.02 on Friday. The stock’s fifty day moving average is $187.92 and its two-hundred day moving average is $173.68. The firm has a market capitalization of $985.52 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 0.88 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.30 and a current ratio of 2.57. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $95.25 and a fifty-two week high of $212.60.

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. The company had revenue of $23.50 billion for the quarter, compared to analyst estimates of $22.72 billion. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%. On average, research analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Tuesday, March 18th will be paid a $0.5484 dividend. This represents a $2.19 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 31.57%.

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.