Glynn Capital Management LLC Sells 590 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Glynn Capital Management LLC trimmed its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 110,743 shares of the semiconductor company’s stock after selling 590 shares during the period. Taiwan Semiconductor Manufacturing accounts for approximately 4.8% of Glynn Capital Management LLC’s holdings, making the stock its 8th largest holding. Glynn Capital Management LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $18,383,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Accredited Wealth Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter valued at about $31,000. City Holding Co. raised its holdings in shares of Taiwan Semiconductor Manufacturing by 238.0% during the 1st quarter. City Holding Co. now owns 169 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 119 shares during the period. Glass Jacobson Investment Advisors llc raised its holdings in shares of Taiwan Semiconductor Manufacturing by 289.4% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 183 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 136 shares during the period. Nemes Rush Group LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 1,810.0% during the 4th quarter. Nemes Rush Group LLC now owns 191 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 181 shares during the period. Finally, Signature Resources Capital Management LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 138.8% during the 1st quarter. Signature Resources Capital Management LLC now owns 191 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 111 shares during the period. 16.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on TSM shares. Susquehanna raised their target price on Taiwan Semiconductor Manufacturing from $255.00 to $265.00 and gave the company a “positive” rating in a report on Monday, July 14th. Citigroup reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, July 17th. Finally, Barclays restated an “overweight” rating and set a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $258.33.

Taiwan Semiconductor Manufacturing Stock Up 0.5%

TSM opened at $241.53 on Friday. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $133.57 and a one year high of $248.28. 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 stock’s fifty day moving average is $216.44 and its 200-day moving average is $194.61. The company has a market capitalization of $1.25 trillion, a PE ratio of 27.54, a P/E/G ratio of 1.16 and a beta of 1.29.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.34. Taiwan Semiconductor Manufacturing had a return on equity of 34.53% and a net margin of 42.91%. The company had revenue of $30.07 billion for the quarter, compared to the consensus estimate of $28.50 billion. During the same quarter in the previous year, the business earned $1.48 EPS. The company’s quarterly revenue was up 44.4% compared to the same quarter last year. On average, equities 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 given a dividend of $0.6499 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 29.65%.

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.