Summit Global Investments Acquires 7,978 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Summit Global Investments increased its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 279.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 10,829 shares of the semiconductor company’s stock after purchasing an additional 7,978 shares during the period. Summit Global Investments’ holdings in Taiwan Semiconductor Manufacturing were worth $1,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tompkins Financial Corp grew its stake in shares of Taiwan Semiconductor Manufacturing by 8.5% in the first quarter. Tompkins Financial Corp now owns 1,272 shares of the semiconductor company’s stock worth $211,000 after acquiring an additional 100 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 17,658.8% in the first quarter. GAMMA Investing LLC now owns 1,511,098 shares of the semiconductor company’s stock valued at $250,842,000 after acquiring an additional 1,502,589 shares during the period. Capital Market Strategies LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 9.1% in the first quarter. Capital Market Strategies LLC now owns 13,431 shares of the semiconductor company’s stock valued at $2,230,000 after acquiring an additional 1,120 shares during the period. Franchise Capital Ltd bought a new position in Taiwan Semiconductor Manufacturing in the first quarter valued at about $15,662,000. Finally, Park National Corp OH lifted its holdings in Taiwan Semiconductor Manufacturing by 14.9% in the first quarter. Park National Corp OH now owns 2,776 shares of the semiconductor company’s stock valued at $461,000 after acquiring an additional 359 shares during the period. 16.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TSM shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, April 17th. Barclays reaffirmed a “hold” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, April 25th. Susquehanna reaffirmed a “positive” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, April 25th. Finally, Citigroup reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing has a consensus rating of “Moderate Buy” and an average target price of $212.00.

Taiwan Semiconductor Manufacturing Price Performance

TSM opened at $197.11 on Friday. The business has a fifty day moving average of $170.81 and a 200 day moving average of $187.42. Taiwan Semiconductor Manufacturing Company Limited has a 52-week low of $133.57 and a 52-week high of $226.40. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.02 trillion, a P/E ratio of 28.00, a PEG ratio of 0.66 and a beta of 1.21.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.09. The business had revenue of $25.82 billion during the quarter, compared to analyst estimates of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. As a group, sell-side analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be given a $0.6499 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s payout ratio is 27.76%.

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.