Avalon Capital Management Grows Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Avalon Capital Management grew its position in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 9.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,351 shares of the semiconductor company’s stock after buying an additional 194 shares during the period. Avalon Capital Management’s holdings in Taiwan Semiconductor Manufacturing were worth $409,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TSM. Tennessee Valley Asset Management Partners purchased a new stake in Taiwan Semiconductor Manufacturing in the 4th quarter worth about $37,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Taiwan Semiconductor Manufacturing by 1.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,961 shares of the semiconductor company’s stock valued at $1,452,000 after purchasing an additional 150 shares in the last quarter. Xponance Inc. raised its stake in shares of Taiwan Semiconductor Manufacturing by 50.1% in the fourth quarter. Xponance Inc. now owns 4,663 shares of the semiconductor company’s stock worth $485,000 after acquiring an additional 1,557 shares during the last quarter. abrdn plc lifted its holdings in Taiwan Semiconductor Manufacturing by 3.1% in the fourth quarter. abrdn plc now owns 347,174 shares of the semiconductor company’s stock valued at $36,106,000 after buying an additional 10,559 shares during the period. Finally, CWM LLC raised its stake in Taiwan Semiconductor Manufacturing by 2.3% during the 4th quarter. CWM LLC now owns 27,855 shares of the semiconductor company’s stock worth $2,897,000 after buying an additional 638 shares during the period. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TSM shares. Needham & Company LLC lifted their target price on Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Susquehanna reissued a “positive” rating and issued a $250.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, August 14th. Barclays upped 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. TD Cowen upped their price objective on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Finally, Sanford C. Bernstein raised their price objective on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.00.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM stock traded up $4.82 on Friday, reaching $171.26. 12,175,050 shares of the company were exchanged, compared to its average volume of 16,057,435. Taiwan Semiconductor Manufacturing Company Limited has a 1 year low of $84.01 and a 1 year high of $193.47. The company has a market cap of $888.23 billion, a price-to-earnings ratio of 32.62, a P/E/G ratio of 1.02 and a beta of 1.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.47. The business has a 50-day moving average price of $171.40 and a 200 day moving average price of $152.07.

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

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a $0.4871 dividend. This represents a $1.95 dividend on an annualized basis and a yield of 1.14%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, December 12th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 36.95%.

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.