Cullen Capital Management LLC Raises Stock Position in Taiwan Semiconductor Manufacturing Company Ltd. $TSM

Cullen Capital Management LLC grew its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 43.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 235,376 shares of the semiconductor company’s stock after purchasing an additional 70,932 shares during the quarter. Cullen Capital Management LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $53,310,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Bank of America Corp DE boosted its position in Taiwan Semiconductor Manufacturing by 0.8% during the 2nd quarter. Bank of America Corp DE now owns 14,805,720 shares of the semiconductor company’s stock valued at $3,353,348,000 after acquiring an additional 115,158 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Taiwan Semiconductor Manufacturing by 19.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,350,239 shares of the semiconductor company’s stock valued at $2,050,141,000 after purchasing an additional 1,984,835 shares during the period. Jennison Associates LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 26.7% in the 2nd quarter. Jennison Associates LLC now owns 12,046,792 shares of the semiconductor company’s stock valued at $2,728,478,000 after purchasing an additional 2,537,760 shares during the period. Alliancebernstein L.P. boosted its position in shares of Taiwan Semiconductor Manufacturing by 18.0% during the second quarter. Alliancebernstein L.P. now owns 10,457,800 shares of the semiconductor company’s stock valued at $2,368,587,000 after purchasing an additional 1,593,786 shares in the last quarter. Finally, WCM Investment Management LLC grew its stake in Taiwan Semiconductor Manufacturing by 3.3% in the second quarter. WCM Investment Management LLC now owns 10,058,659 shares of the semiconductor company’s stock worth $2,299,108,000 after purchasing an additional 324,615 shares during the period. Institutional investors own 16.51% of the company’s stock.

Analysts Set New Price Targets

TSM has been the subject of several recent research reports. Wall Street Zen raised Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Sunday. Itau BBA Securities began coverage on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, October 7th. They set an “outperform” rating for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Monday, December 8th. Barclays raised their target price on shares of Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, UBS Group set a $330.00 price target on Taiwan Semiconductor Manufacturing in a research report on Sunday, December 7th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $355.00.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM stock opened at $291.87 on Monday. The company has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.47 and a current ratio of 2.69. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $134.25 and a one year high of $313.98. The company’s 50-day moving average is $293.64 and its 200 day moving average is $257.18.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its earnings results on Thursday, October 16th. The semiconductor company reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.33. Taiwan Semiconductor Manufacturing had a net margin of 43.72% and a return on equity of 34.34%. The firm had revenue of $32.36 billion for the quarter, compared to the consensus estimate of $951.89 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. The business’s revenue was up 40.1% on a year-over-year basis. Sell-side analysts expect that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 17th will be issued a $0.9678 dividend. This represents a $3.87 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 17th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 25.85%.

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.