CIBC Asset Management Inc Reduces Stock Holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

CIBC Asset Management Inc cut its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 7.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 70,341 shares of the semiconductor company’s stock after selling 5,736 shares during the period. CIBC Asset Management Inc’s holdings in Taiwan Semiconductor Manufacturing were worth $12,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Capital World Investors lifted its holdings in Taiwan Semiconductor Manufacturing by 1.7% during the first quarter. Capital World Investors now owns 42,061,083 shares of the semiconductor company’s stock valued at $5,722,410,000 after purchasing an additional 704,804 shares during the last quarter. Capital International Investors lifted its stake in shares of Taiwan Semiconductor Manufacturing by 40.2% during the 1st quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock valued at $2,679,602,000 after buying an additional 5,643,949 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Taiwan Semiconductor Manufacturing by 0.7% in the 3rd quarter. Van ECK Associates Corp now owns 18,289,993 shares of the semiconductor company’s stock worth $3,176,423,000 after buying an additional 122,828 shares during the period. WCM Investment Management LLC raised its holdings in Taiwan Semiconductor Manufacturing by 14.1% during the 3rd quarter. WCM Investment Management LLC now owns 9,738,181 shares of the semiconductor company’s stock valued at $1,733,104,000 after acquiring an additional 1,206,359 shares during the period. Finally, GQG Partners LLC lifted its position in shares of Taiwan Semiconductor Manufacturing by 25.1% during the first quarter. GQG Partners LLC now owns 8,538,277 shares of the semiconductor company’s stock worth $1,161,633,000 after acquiring an additional 1,710,673 shares in the last quarter. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Stock Down 1.3 %

Shares of NYSE TSM opened at $186.01 on Friday. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average of $185.79 and a 200-day moving average of $172.16. The firm has a market capitalization of $964.72 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 0.89 and a beta of 1.12. Taiwan Semiconductor Manufacturing Company Limited has a 12 month low of $95.25 and a 12 month high of $212.60.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Thursday, October 17th. The semiconductor company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.20. The business had revenue of $23.50 billion during the quarter, compared to analysts’ expectations of $22.72 billion. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.30%. Sell-side analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.73 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.5484 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.19 annualized dividend and a yield of 1.18%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s payout ratio is 31.57%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday. Susquehanna reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 18th. Barclays raised their price objective on shares of Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, October 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing currently has an average rating of “Moderate Buy” and a consensus price target of $209.00.

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.