Cottonwood Capital Advisors LLC Trims Stock Position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Cottonwood Capital Advisors LLC decreased its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 14.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,698 shares of the semiconductor company’s stock after selling 292 shares during the quarter. Cottonwood Capital Advisors LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $282,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. IMG Wealth Management Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at $26,000. Hopwood Financial Services Inc. acquired a new stake in Taiwan Semiconductor Manufacturing in the 4th quarter valued at $27,000. Accredited Wealth Management LLC purchased a new position in Taiwan Semiconductor Manufacturing in the fourth quarter valued at about $31,000. City Holding Co. lifted its stake in shares of Taiwan Semiconductor Manufacturing by 238.0% during the first quarter. City Holding Co. now owns 169 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 119 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc boosted its position in shares of Taiwan Semiconductor Manufacturing by 289.4% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company’s stock worth $36,000 after buying an additional 136 shares during the period. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Taiwan Semiconductor Manufacturing Stock Up 1.1%

NYSE:TSM opened at $222.56 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.18 and a current ratio of 2.39. The company has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 1.14 and a beta of 1.27. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $133.57 and a one year high of $226.40. The stock has a 50-day simple moving average of $190.02 and a 200 day simple moving average of $189.89.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly 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 the consensus estimate of $834.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 31.43% and a net margin of 41.67%. Sell-side analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.6499 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 30.59%.

About Taiwan Semiconductor Manufacturing

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.