Riverpark Capital Management LLC Increases Stock Holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Riverpark Capital Management LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 26.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,889 shares of the semiconductor company’s stock after buying an additional 1,220 shares during the quarter. Taiwan Semiconductor Manufacturing accounts for about 1.8% of Riverpark Capital Management LLC’s portfolio, making the stock its 26th largest position. Riverpark Capital Management LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $978,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSM. Goldman Sachs Group Inc. grew its stake in Taiwan Semiconductor Manufacturing by 55.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 17,306,108 shares of the semiconductor company’s stock worth $2,872,814,000 after buying an additional 6,180,445 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Taiwan Semiconductor Manufacturing by 67.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company’s stock worth $2,047,065,000 after buying an additional 4,158,772 shares during the last quarter. Jennison Associates LLC grew its stake in Taiwan Semiconductor Manufacturing by 36.8% during the 1st quarter. Jennison Associates LLC now owns 9,509,032 shares of the semiconductor company’s stock worth $1,578,499,000 after buying an additional 2,559,512 shares during the last quarter. Sarasin & Partners LLP purchased a new position in Taiwan Semiconductor Manufacturing during the 1st quarter worth $362,773,000. Finally, Northern Trust Corp grew its stake in Taiwan Semiconductor Manufacturing by 45.2% during the 4th quarter. Northern Trust Corp now owns 6,244,965 shares of the semiconductor company’s stock valued at $1,233,318,000 after purchasing an additional 1,944,328 shares during the last quarter. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM stock opened at $241.91 on Friday. The stock has a market cap of $1.25 trillion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The business has a 50-day simple moving average of $226.40 and a 200-day simple moving average of $196.91. The company has a quick ratio of 2.15, a current ratio of 2.37 and a debt-to-equity ratio of 0.18. Taiwan Semiconductor Manufacturing Company Ltd. has a 52-week low of $134.25 and a 52-week high of $248.28.

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 the consensus estimate of $2.13 by $0.34. The business had revenue of $30.07 billion during the quarter, compared to analysts’ expectations of $28.50 billion. Taiwan Semiconductor Manufacturing had a return on equity of 32.87% and a net margin of 42.91%. The company’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 EPS. On average, equities analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be issued a $0.6499 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s payout ratio is 28.16%.

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.