Geode Capital Management LLC Reduces Stock Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Geode Capital Management LLC decreased its holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 0.3% during the third quarter, HoldingsChannel.com reports. The firm owned 642,784 shares of the semiconductor company’s stock after selling 1,858 shares during the quarter. Geode Capital Management LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $111,632,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Savoie Capital LLC raised its stake in shares of Taiwan Semiconductor Manufacturing by 10.3% during the third quarter. Savoie Capital LLC now owns 30,966 shares of the semiconductor company’s stock valued at $5,378,000 after acquiring an additional 2,900 shares in the last quarter. Sender Co & Partners Inc. bought a new stake in Taiwan Semiconductor Manufacturing during the 3rd quarter valued at $1,776,000. Brophy Wealth Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the 3rd quarter worth $305,000. M&T Bank Corp grew its position in shares of Taiwan Semiconductor Manufacturing by 12.4% during the 3rd quarter. M&T Bank Corp now owns 241,714 shares of the semiconductor company’s stock worth $41,979,000 after buying an additional 26,715 shares in the last quarter. Finally, Executive Wealth Management LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing during the third quarter valued at $834,000. 16.51% of the stock is currently owned by institutional investors.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM opened at $195.56 on Thursday. The company has a 50 day moving average of $193.85 and a two-hundred day moving average of $179.10. The company has a market cap of $1.01 trillion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. Taiwan Semiconductor Manufacturing Company Limited has a twelve month low of $98.80 and a twelve 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, beating analysts’ consensus estimates of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a return on equity of 27.44% and a net margin of 39.10%. The company had revenue of $23.50 billion during the quarter, compared to analysts’ expectations of $22.72 billion. As a group, analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.5484 per share. This represents a $2.19 annualized dividend and a yield of 1.12%. The ex-dividend date is Tuesday, March 18th. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s payout ratio is currently 35.10%.

Analysts Set New Price Targets

TSM has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, October 17th. Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 18th. Barclays lifted their price objective on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $214.00.

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.