Meridian Investment Counsel Inc. Trims Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Meridian Investment Counsel Inc. cut its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,670 shares of the semiconductor company's stock after selling 9,002 shares during the quarter. Taiwan Semiconductor Manufacturing comprises about 5.6% of Meridian Investment Counsel Inc.'s holdings, making the stock its 2nd largest position. Meridian Investment Counsel Inc.'s holdings in Taiwan Semiconductor Manufacturing were worth $18,894,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TSM. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Taiwan Semiconductor Manufacturing by 211.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,005 shares of the semiconductor company's stock valued at $7,990,000 after acquiring an additional 31,231 shares during the period. Fiduciary Trust Co raised its stake in shares of Taiwan Semiconductor Manufacturing by 63.9% during the 3rd quarter. Fiduciary Trust Co now owns 4,157 shares of the semiconductor company's stock valued at $722,000 after purchasing an additional 1,621 shares during the period. Tradition Wealth Management LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 63.6% during the 3rd quarter. Tradition Wealth Management LLC now owns 3,553 shares of the semiconductor company's stock worth $617,000 after purchasing an additional 1,381 shares in the last quarter. Semmax Financial Advisors Inc. boosted its stake in Taiwan Semiconductor Manufacturing by 11.5% in the 3rd quarter. Semmax Financial Advisors Inc. now owns 23,165 shares of the semiconductor company's stock worth $4,442,000 after purchasing an additional 2,383 shares during the period. Finally, Timber Creek Capital Management LLC grew its holdings in Taiwan Semiconductor Manufacturing by 0.7% during the 3rd quarter. Timber Creek Capital Management LLC now owns 58,804 shares of the semiconductor company's stock valued at $10,212,000 after buying an additional 416 shares in the last quarter. Hedge funds and other institutional investors own 16.51% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays increased 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. StockNews.com downgraded shares of Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, February 18th. 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, Taiwan Semiconductor Manufacturing presently has a consensus rating of "Moderate Buy" and a consensus price target of $220.00.

Taiwan Semiconductor Manufacturing Price Performance

Shares of NYSE:TSM traded up $2.46 during trading on Tuesday, reaching $168.46. The company had a trading volume of 9,155,553 shares, compared to its average volume of 15,287,641. The company has a fifty day moving average of $191.44 and a two-hundred day moving average of $192.67. 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 stock has a market capitalization of $873.72 billion, a P/E ratio of 23.93, a price-to-earnings-growth ratio of 0.66 and a beta of 1.13. Taiwan Semiconductor Manufacturing Company Limited has a 12 month low of $125.78 and a 12 month high of $226.40.

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 analysts' consensus estimates of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. Equities research analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.6855 per share. This is a boost from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.55. This represents a $2.74 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, June 12th. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 30.68%.

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.