Westover Capital Advisors LLC Buys 3,597 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Westover Capital Advisors LLC raised its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 24.4% in the 1st quarter, HoldingsChannel reports. The firm owned 18,315 shares of the semiconductor company’s stock after acquiring an additional 3,597 shares during the quarter. Westover Capital Advisors LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $3,040,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. City Holding Co. increased its position 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 acquiring an additional 119 shares in the last quarter. Accredited Wealth Management LLC bought a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $31,000. Signature Resources Capital Management LLC increased its holdings in 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 worth $32,000 after purchasing an additional 111 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter worth approximately $33,000. Finally, Glass Jacobson Investment Advisors llc increased its holdings in 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 worth $36,000 after purchasing an additional 136 shares in the last quarter. 16.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM opened at $241.53 on Friday. Taiwan Semiconductor Manufacturing Company Ltd. has a fifty-two week low of $133.57 and a fifty-two week high of $248.28. The stock has a market cap of $1.25 trillion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 1.16 and a beta of 1.29. The firm’s 50-day simple moving average is $216.44 and its two-hundred day simple moving average is $194.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.18 and a current ratio of 2.39.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings data on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.34. The firm had revenue of $30.07 billion during the quarter, compared to the consensus estimate of $28.50 billion. Taiwan Semiconductor Manufacturing had a net margin of 42.91% and a return on equity of 34.53%. The company’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.48 EPS. Analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.6499 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 annualized dividend and a yield of 1.08%. Taiwan Semiconductor Manufacturing’s payout ratio is 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.