Taiwan Semiconductor Mfg. Co. Ltd. (TSM) Position Cut by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. lessened its stake in Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) by 15.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,166,533 shares of the semiconductor company’s stock after selling 213,755 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Taiwan Semiconductor Mfg. were worth $10,029,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. KCS Wealth Advisory grew its position in Taiwan Semiconductor Mfg. by 5.2% in the 2nd quarter. KCS Wealth Advisory now owns 26,253 shares of the semiconductor company’s stock valued at $960,000 after buying an additional 1,296 shares in the last quarter. Cardinal Capital Management Inc. grew its position in Taiwan Semiconductor Mfg. by 0.7% in the 3rd quarter. Cardinal Capital Management Inc. now owns 183,915 shares of the semiconductor company’s stock valued at $8,122,000 after buying an additional 1,340 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Taiwan Semiconductor Mfg. by 0.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 358,524 shares of the semiconductor company’s stock valued at $13,109,000 after buying an additional 1,344 shares in the last quarter. BancorpSouth Bank grew its position in Taiwan Semiconductor Mfg. by 10.3% in the 2nd quarter. BancorpSouth Bank now owns 14,906 shares of the semiconductor company’s stock valued at $545,000 after buying an additional 1,393 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its position in Taiwan Semiconductor Mfg. by 18.1% in the 2nd quarter. SRS Capital Advisors Inc. now owns 10,281 shares of the semiconductor company’s stock valued at $375,000 after buying an additional 1,575 shares in the last quarter. Hedge funds and other institutional investors own 19.35% of the company’s stock.

Shares of NYSE TSM opened at $36.52 on Friday. Taiwan Semiconductor Mfg. Co. Ltd. has a twelve month low of $35.22 and a twelve month high of $46.57. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.67 and a quick ratio of 2.34. The stock has a market capitalization of $194.17 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 1.14 and a beta of 1.18.

Taiwan Semiconductor Mfg. (NYSE:TSM) last issued its quarterly earnings results on Thursday, October 18th. The semiconductor company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. Taiwan Semiconductor Mfg. had a net margin of 34.38% and a return on equity of 22.62%. The company had revenue of $260.35 billion during the quarter, compared to the consensus estimate of $257.92 billion. During the same period in the prior year, the company earned $3.47 EPS. Taiwan Semiconductor Mfg.’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that Taiwan Semiconductor Mfg. Co. Ltd. will post 2.19 EPS for the current year.

A number of equities analysts recently issued reports on TSM shares. Morgan Stanley upgraded shares of Taiwan Semiconductor Mfg. from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 18th. Zacks Investment Research downgraded shares of Taiwan Semiconductor Mfg. from a “hold” rating to a “sell” rating in a report on Thursday, August 23rd. Finally, ValuEngine downgraded shares of Taiwan Semiconductor Mfg. from a “buy” rating to a “hold” rating in a report on Saturday, August 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $46.00.

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About Taiwan Semiconductor Mfg.

Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, engages in manufacturing, selling, packaging, testing, and computer-aided design of integrated circuits and other semiconductor devices. The company manufactures masks and electronic spare parts; researches, develops, designs, manufactures, sells, packages, and tests color filters; and offers customer and engineering support services.

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Institutional Ownership by Quarter for Taiwan Semiconductor Mfg. (NYSE:TSM)

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