Connor Clark & Lunn Investment Management Ltd. Trims Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Free Report) by 30.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 256,028 shares of the semiconductor company's stock after selling 113,014 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Taiwan Semiconductor Manufacturing were worth $44,464,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TSM. ProShare Advisors LLC acquired a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter worth about $210,000. Crewe Advisors LLC acquired a new stake in Taiwan Semiconductor Manufacturing in the first quarter valued at $100,000. CreativeOne Wealth LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 25.8% in the first quarter. CreativeOne Wealth LLC now owns 4,208 shares of the semiconductor company's stock worth $573,000 after acquiring an additional 863 shares during the last quarter. Wellington Wealth Strategies LLC. purchased a new position in shares of Taiwan Semiconductor Manufacturing in the 1st quarter worth $337,000. Finally, EP Wealth Advisors LLC boosted its position in Taiwan Semiconductor Manufacturing by 5.8% in the 1st quarter. EP Wealth Advisors LLC now owns 14,511 shares of the semiconductor company's stock valued at $1,974,000 after buying an additional 794 shares during the last quarter. Hedge funds and other institutional investors own 16.51% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a research note on Sunday. Barclays increased their price objective on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the stock an "overweight" rating in a research report on Monday. Susquehanna restated a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $214.00.

Taiwan Semiconductor Manufacturing Stock Down 0.7 %

NYSE TSM traded down $1.31 during trading on Wednesday, reaching $188.36. 10,574,067 shares of the company's stock were exchanged, compared to its average volume of 15,361,500. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $95.25 and a fifty-two week high of $212.60. The company's fifty day simple moving average is $186.82 and its 200-day simple moving average is $173.13. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $976.91 billion, a PE ratio of 29.79, a P/E/G ratio of 0.87 and a beta of 1.12.

Taiwan Semiconductor Manufacturing (NYSE:TSM - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The semiconductor company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.44%. The business had revenue of $23.50 billion for the quarter, compared to analysts' expectations of $22.72 billion. Sell-side analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.84 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Tuesday, March 18th will be paid a $0.5484 dividend. This is a positive change from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.49. The ex-dividend date is Tuesday, March 18th. This represents a $2.19 dividend on an annualized basis and a dividend yield of 1.16%. Taiwan Semiconductor Manufacturing's dividend payout ratio is 31.57%.

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.