Procyon Advisors LLC Trims Stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Procyon Advisors LLC reduced its holdings in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSMGet Rating) by 4.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,815 shares of the semiconductor company’s stock after selling 140 shares during the period. Procyon Advisors LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $230,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Panagora Asset Management Inc. increased its stake in shares of Taiwan Semiconductor Manufacturing by 22.4% in the first quarter. Panagora Asset Management Inc. now owns 19,698 shares of the semiconductor company’s stock worth $2,054,000 after purchasing an additional 3,608 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in Taiwan Semiconductor Manufacturing by 15.9% during the first quarter. Crossmark Global Holdings Inc. now owns 432,554 shares of the semiconductor company’s stock valued at $45,098,000 after acquiring an additional 59,398 shares in the last quarter. Kempner Capital Management Inc. purchased a new position in Taiwan Semiconductor Manufacturing during the first quarter valued at $1,768,000. NewEdge Advisors LLC grew its stake in Taiwan Semiconductor Manufacturing by 19.8% during the first quarter. NewEdge Advisors LLC now owns 317,800 shares of the semiconductor company’s stock valued at $33,133,000 after acquiring an additional 52,508 shares in the last quarter. Finally, Vienna Asset Management LLC purchased a new position in Taiwan Semiconductor Manufacturing during the fourth quarter valued at $1,225,000. 16.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Susquehanna Bancshares cut their target price on shares of Taiwan Semiconductor Manufacturing from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, July 14th. Loop Capital assumed coverage on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 21st. They set a “buy” rating for the company. Cowen set a $100.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, July 19th. Finally, Susquehanna lowered their price objective on shares of Taiwan Semiconductor Manufacturing from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, July 14th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.14.

Taiwan Semiconductor Manufacturing Price Performance

Taiwan Semiconductor Manufacturing stock opened at $78.23 on Tuesday. The firm has a 50-day moving average price of $84.82 and a 200-day moving average price of $91.00. The firm has a market capitalization of $405.73 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.52 and a beta of 0.99. The company has a current ratio of 2.25, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. Taiwan Semiconductor Manufacturing Company Limited has a 12-month low of $73.74 and a 12-month high of $145.00.

Taiwan Semiconductor Manufacturing (NYSE:TSMGet Rating) last released its earnings results on Thursday, July 14th. The semiconductor company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.05. The firm had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.68 billion. Taiwan Semiconductor Manufacturing had a net margin of 40.53% and a return on equity of 33.56%. As a group, equities research analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.24 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 12th. Stockholders of record on Friday, December 16th will be issued a $0.458 dividend. The ex-dividend date is Thursday, December 15th. This represents a $1.83 annualized dividend and a dividend yield of 2.34%. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 27.22%.

About Taiwan Semiconductor Manufacturing

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Taiwan Semiconductor Manufacturing Company Limited 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 complementary metal oxide silicon wafer fabrication processes to manufacture logic, mixed-signal, radio frequency, and embedded memory semiconductors.

Further Reading

Institutional Ownership by Quarter for Taiwan Semiconductor Manufacturing (NYSE:TSM)

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