Drive Wealth Management LLC Has $1.72 Million Stock Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Drive Wealth Management LLC lessened its position in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 14.2% in the second quarter, HoldingsChannel.com reports. The firm owned 9,841 shares of the semiconductor company’s stock after selling 1,623 shares during the quarter. Drive Wealth Management LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $1,716,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sanders Capital LLC boosted its position in Taiwan Semiconductor Manufacturing by 3.5% during the fourth quarter. Sanders Capital LLC now owns 44,527,327 shares of the semiconductor company’s stock valued at $4,630,842,000 after acquiring an additional 1,501,548 shares during the last quarter. Capital World Investors increased its holdings in Taiwan Semiconductor Manufacturing by 1.7% in the first quarter. Capital World Investors now owns 42,061,083 shares of the semiconductor company’s stock worth $5,722,410,000 after purchasing an additional 704,804 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Taiwan Semiconductor Manufacturing by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 31,060,369 shares of the semiconductor company’s stock worth $3,230,279,000 after purchasing an additional 422,976 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Taiwan Semiconductor Manufacturing by 6.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 28,443,595 shares of the semiconductor company’s stock valued at $2,958,134,000 after buying an additional 1,649,279 shares during the period. Finally, Capital International Investors boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 40.2% during the 1st quarter. Capital International Investors now owns 19,695,714 shares of the semiconductor company’s stock worth $2,679,602,000 after buying an additional 5,643,949 shares in the last quarter. Institutional investors own 16.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Sanford C. Bernstein lifted their price target on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Susquehanna reiterated a “positive” rating and set a $250.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Wednesday, August 14th. Barclays increased their price target on Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. Needham & Company LLC upped their target price on shares of Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, TD Cowen upped their target price on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, July 18th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Taiwan Semiconductor Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.00.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of NYSE TSM traded up $2.55 during trading on Friday, reaching $171.70. 9,481,403 shares of the stock traded hands, compared to its average volume of 15,950,570. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.47 and a quick ratio of 2.21. The stock has a market capitalization of $890.51 billion, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. Taiwan Semiconductor Manufacturing Company Limited has a 52-week low of $84.01 and a 52-week high of $193.47. The company has a 50-day moving average of $170.68 and a 200-day moving average of $154.06.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Thursday, July 18th. The semiconductor company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.37 by $0.11. The business had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.33 billion. Taiwan Semiconductor Manufacturing had a net margin of 37.85% and a return on equity of 25.54%. The company’s revenue was up 34.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. Analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.13%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, December 12th. Taiwan Semiconductor Manufacturing’s payout ratio is currently 32.57%.

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.