Bank of Nova Scotia Reduces Stock Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Bank of Nova Scotia decreased its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Free Report) by 27.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,947 shares of the semiconductor company's stock after selling 5,369 shares during the period. Bank of Nova Scotia's holdings in Taiwan Semiconductor Manufacturing were worth $2,754,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter valued at $26,000. Hopwood Financial Services Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the fourth quarter worth $27,000. Roxbury Financial LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth $29,000. Finally, Nemes Rush Group LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 1,810.0% in the fourth quarter. Nemes Rush Group LLC now owns 191 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 181 shares in the last quarter. 16.51% of the stock is owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Price Performance

NYSE TSM traded down $4.73 on Wednesday, reaching $152.60. 8,667,999 shares of the company's stock traded hands, compared to its average volume of 18,272,244. The stock has a market cap of $791.44 billion, a PE ratio of 21.68, a P/E/G ratio of 0.66 and a beta of 1.16. Taiwan Semiconductor Manufacturing Company Limited has a 12 month low of $125.78 and a 12 month high of $226.40. The stock has a 50-day simple moving average of $177.09 and a 200 day simple moving average of $190.54. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last released its earnings results on Thursday, January 16th. The semiconductor company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. As a group, research analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be issued a dividend of $0.6855 per share. The ex-dividend date of this dividend is Thursday, June 12th. This is a boost from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.55. This represents a $2.74 annualized dividend and a yield of 1.80%. Taiwan Semiconductor Manufacturing's dividend payout ratio is currently 30.68%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSM. Barclays upped their price target on shares of Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Needham & Company LLC reissued a "buy" rating and issued a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, February 18th. Finally, StockNews.com cut shares of Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $220.00.

Taiwan Semiconductor Manufacturing Company Profile

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.