FengHe Fund Management Pte. Ltd. Reduces Holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

FengHe Fund Management Pte. Ltd. trimmed its stake in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 67.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,600 shares of the semiconductor company’s stock after selling 299,500 shares during the quarter. Taiwan Semiconductor Manufacturing comprises 9.2% of FengHe Fund Management Pte. Ltd.’s holdings, making the stock its 3rd biggest position. FengHe Fund Management Pte. Ltd.’s holdings in Taiwan Semiconductor Manufacturing were worth $24,502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSM. Brighton Jones LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 20.9% during the 4th quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company’s stock worth $2,159,000 after buying an additional 1,892 shares in the last quarter. Savvy Advisors Inc. grew its stake in shares of Taiwan Semiconductor Manufacturing by 13.4% in the 4th quarter. Savvy Advisors Inc. now owns 2,380 shares of the semiconductor company’s stock worth $470,000 after purchasing an additional 282 shares during the last quarter. Mariner LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 5.2% in the 4th quarter. Mariner LLC now owns 222,948 shares of the semiconductor company’s stock worth $44,032,000 after purchasing an additional 10,983 shares during the last quarter. CreativeOne Wealth LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 56.3% in the 4th quarter. CreativeOne Wealth LLC now owns 8,318 shares of the semiconductor company’s stock worth $1,643,000 after purchasing an additional 2,995 shares during the last quarter. Finally, Hanlon Investment Management Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $241,000. 16.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Taiwan Semiconductor Manufacturing Stock Performance

Taiwan Semiconductor Manufacturing stock opened at $243.99 on Wednesday. The firm’s 50 day simple moving average is $228.27 and its 200-day simple moving average is $197.00. The company has a market cap of $1.27 trillion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.37 and a quick ratio of 2.15. Taiwan Semiconductor Manufacturing Company Ltd. has a fifty-two week low of $134.25 and a fifty-two week high of $248.28.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, July 17th. The semiconductor company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.34. The business had revenue of $30.07 billion for 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 32.87%. The firm’s quarterly revenue was up 44.4% compared to the same quarter last year. During the same period last year, the firm posted $1.48 earnings per share. As a group, equities research 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 announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be given 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 dividend payout ratio (DPR) 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.