Summit Financial LLC Sells 5,582 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Summit Financial LLC cut its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 31.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,441 shares of the semiconductor company’s stock after selling 5,582 shares during the quarter. Summit Financial LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $1,300,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TSM. Van ECK Associates Corp grew its position in Taiwan Semiconductor Manufacturing by 29.6% during the 3rd quarter. Van ECK Associates Corp now owns 14,795,582 shares of the semiconductor company’s stock worth $1,285,736,000 after acquiring an additional 3,381,514 shares during the last quarter. Morgan Stanley grew its holdings in Taiwan Semiconductor Manufacturing by 11.2% during the 3rd quarter. Morgan Stanley now owns 23,804,180 shares of the semiconductor company’s stock worth $2,068,583,000 after acquiring an additional 2,400,882 shares during the last quarter. Lone Pine Capital LLC increased its position in Taiwan Semiconductor Manufacturing by 21.7% in the 3rd quarter. Lone Pine Capital LLC now owns 7,800,152 shares of the semiconductor company’s stock valued at $677,833,000 after acquiring an additional 1,389,785 shares during the period. American Century Companies Inc. raised its stake in shares of Taiwan Semiconductor Manufacturing by 56.2% during the third quarter. American Century Companies Inc. now owns 3,473,637 shares of the semiconductor company’s stock valued at $301,859,000 after acquiring an additional 1,250,290 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 44.1% during the third quarter. Northern Trust Corp now owns 3,490,630 shares of the semiconductor company’s stock worth $303,336,000 after purchasing an additional 1,068,723 shares during the period. Institutional investors and hedge funds own 16.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TSM. StockNews.com upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $168.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, April 18th. Barclays lifted their target price on shares of Taiwan Semiconductor Manufacturing from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. TD Cowen increased 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. Finally, Susquehanna upped their price objective on shares of Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the company a “positive” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Taiwan Semiconductor Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

Taiwan Semiconductor Manufacturing Stock Down 1.0 %

Taiwan Semiconductor Manufacturing stock traded down $1.41 during midday trading on Thursday, hitting $133.53. 1,802,749 shares of the stock were exchanged, compared to its average volume of 15,479,169. The company has a quick ratio of 2.06, a current ratio of 2.33 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $692.54 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The business’s 50-day moving average price is $137.73 and its 200-day moving average price is $115.76. Taiwan Semiconductor Manufacturing Company Limited has a 52-week low of $82.44 and a 52-week high of $158.40.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 13th will be given a dividend of $0.4408 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, June 13th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 32.76%.

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.