Veritas Asset Management LLP Sells 7,731 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Veritas Asset Management LLP trimmed its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM - Free Report) by 30.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,302 shares of the semiconductor company's stock after selling 7,731 shares during the period. Veritas Asset Management LLP's holdings in Taiwan Semiconductor Manufacturing were worth $3,005,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter valued at approximately $25,000. Reston Wealth Management LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing during the third quarter valued at $25,000. Olistico Wealth LLC purchased a new stake in Taiwan Semiconductor Manufacturing in the 2nd quarter worth about $27,000. Valley Wealth Managers Inc. purchased a new position in Taiwan Semiconductor Manufacturing during the 2nd quarter valued at about $27,000. Finally, NewSquare Capital LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 16.51% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $210.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, October 17th. TD Cowen boosted their target price on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a "hold" rating in a research note on Thursday, July 18th. Susquehanna reaffirmed a "buy" rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Barclays lifted their price target on Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $209.00.

Taiwan Semiconductor Manufacturing Stock Performance

Taiwan Semiconductor Manufacturing stock traded up $2.41 during trading hours on Friday, reaching $192.95. 12,691,190 shares of the company were exchanged, compared to its average volume of 16,069,050. The stock has a 50-day moving average of $180.45 and a 200 day moving average of $168.28. The company has a current ratio of 2.57, a quick ratio of 2.21 and a debt-to-equity ratio of 0.23. Taiwan Semiconductor Manufacturing Company Limited has a 12 month low of $89.46 and a 12 month high of $212.60. The firm has a market cap of $1.00 trillion, a price-to-earnings ratio of 30.92, a PEG ratio of 0.92 and a beta of 1.12.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be paid a $0.4871 dividend. This represents a $1.95 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from Taiwan Semiconductor Manufacturing's previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing's dividend payout ratio (DPR) is presently 31.57%.

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.