JCIC Asset Management Inc. Decreases Stock Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

JCIC Asset Management Inc. cut its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 24.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,066 shares of the semiconductor company’s stock after selling 7,550 shares during the quarter. Taiwan Semiconductor Manufacturing accounts for 1.6% of JCIC Asset Management Inc.’s portfolio, making the stock its 21st largest position. JCIC Asset Management Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $3,829,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Guardian Partners Inc. bought a new position in Taiwan Semiconductor Manufacturing during the 4th quarter valued at $9,222,000. Pinnacle Investment Management Ltd bought a new position in Taiwan Semiconductor Manufacturing during the 4th quarter valued at $26,661,000. Alphinity Investment Management Pty Ltd bought a new position in Taiwan Semiconductor Manufacturing during the 4th quarter valued at $349,241,000. Sentry LLC bought a new position in Taiwan Semiconductor Manufacturing during the 1st quarter valued at $222,000. Finally, Red Crane Wealth Management LLC bought a new position in Taiwan Semiconductor Manufacturing during the 4th quarter valued at $320,000. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Stock Up 4.6%

TSM stock opened at $220.03 on Wednesday. The company has a quick ratio of 2.18, a current ratio of 2.39 and a debt-to-equity ratio of 0.22. Taiwan Semiconductor Manufacturing Company Ltd. has a fifty-two week low of $133.57 and a fifty-two week high of $226.40. The firm’s 50-day simple moving average is $188.59 and its 200 day simple moving average is $189.67. The stock has a market cap of $1.14 trillion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.09 and a beta of 1.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a net margin of 41.67% and a return on equity of 31.43%. The business had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $834.10 billion. As a group, sell-side analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be issued a $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.18%. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 30.59%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Susquehanna increased their price objective on shares of Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the company a “positive” rating in a research note on Tuesday, June 17th. Needham & Company LLC reissued a “buy” rating and set a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Barclays reissued an “overweight” rating and set a $240.00 target price (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Finally, Citigroup reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $222.50.

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.