Sax Wealth Advisors LLC Raises Stock Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Sax Wealth Advisors LLC raised its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 23.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,288 shares of the semiconductor company’s stock after purchasing an additional 440 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $398,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Eldred Rock Partners LLC increased its position in Taiwan Semiconductor Manufacturing by 55.4% during the 2nd quarter. Eldred Rock Partners LLC now owns 32,880 shares of the semiconductor company’s stock valued at $5,715,000 after purchasing an additional 11,728 shares during the period. Gilman Hill Asset Management LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the 2nd quarter valued at about $309,000. Annex Advisory Services LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter valued at about $8,109,000. Capital Investment Advisors LLC boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 9.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 2,604 shares of the semiconductor company’s stock valued at $453,000 after acquiring an additional 235 shares during the last quarter. Finally, Baldwin Brothers LLC MA boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 109.3% during the 2nd quarter. Baldwin Brothers LLC MA now owns 314 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 164 shares during the last quarter. 16.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. Susquehanna restated a “positive” rating and set a $250.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday. Sanford C. Bernstein raised their target price on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. Needham & Company LLC raised their target price on shares of Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, TD Cowen raised their target price on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.00.

Taiwan Semiconductor Manufacturing Price Performance

Shares of Taiwan Semiconductor Manufacturing stock traded up $2.57 on Friday, hitting $167.12. 20,519,406 shares of the company traded hands, compared to its average volume of 16,268,685. The stock has a market capitalization of $866.75 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 0.92 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.39. Taiwan Semiconductor Manufacturing Company Limited has a 52 week low of $84.01 and a 52 week high of $193.47. The business has a 50-day simple moving average of $170.06 and a 200 day simple moving average of $148.80.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.11. Taiwan Semiconductor Manufacturing had a net margin of 37.85% and a return on equity of 25.89%. The firm had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.33 billion. During the same quarter last year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was up 34.6% compared to the same quarter last year. Research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.37 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Thursday, September 12th will be given a $0.4865 dividend. This represents a $1.95 annualized dividend and a yield of 1.16%. The ex-dividend date is Thursday, September 12th. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. Taiwan Semiconductor Manufacturing’s payout ratio is currently 32.57%.

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.