Phoenix Financial Ltd. Decreases Stock Holdings in Taiwan Semiconductor Manufacturing Company Ltd. $TSM

Phoenix Financial Ltd. lowered its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 3.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 451,432 shares of the semiconductor company’s stock after selling 13,918 shares during the quarter. Taiwan Semiconductor Manufacturing comprises 1.7% of Phoenix Financial Ltd.’s portfolio, making the stock its 17th largest holding. Phoenix Financial Ltd.’s holdings in Taiwan Semiconductor Manufacturing were worth $125,381,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Heartwood Wealth Advisors LLC purchased a new stake in Taiwan Semiconductor Manufacturing in the third quarter worth about $32,000. Fairman Group LLC increased its position in Taiwan Semiconductor Manufacturing by 171.2% during the 3rd quarter. Fairman Group LLC now owns 141 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 89 shares during the period. Resources Management Corp CT ADV bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter valued at about $32,000. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter worth approximately $33,000. Finally, Navigoe LLC bought a new position in shares of Taiwan Semiconductor Manufacturing during the third quarter valued at approximately $42,000. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TSM shares. Itau BBA Securities began coverage on Taiwan Semiconductor Manufacturing in a report on Tuesday, October 7th. They set an “outperform” rating for the company. Wall Street Zen upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. The Goldman Sachs Group reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Monday, January 5th. Susquehanna boosted their target price on shares of Taiwan Semiconductor Manufacturing from $300.00 to $400.00 and gave the stock a “positive” rating in a report on Friday, October 10th. Finally, TD Cowen increased their target price on shares of Taiwan Semiconductor Manufacturing from $325.00 to $370.00 and gave the company a “hold” rating in a research report on Friday, January 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing currently has a consensus rating of “Buy” and an average target price of $381.67.

Taiwan Semiconductor Manufacturing Trading Down 0.6%

Shares of NYSE:TSM opened at $332.71 on Tuesday. Taiwan Semiconductor Manufacturing Company Ltd. has a 52-week low of $134.25 and a 52-week high of $351.33. The stock has a market cap of $1.72 trillion, a price-to-earnings ratio of 31.24, a PEG ratio of 0.95 and a beta of 1.29. The company has a quick ratio of 2.47, a current ratio of 2.69 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $304.98 and a 200-day moving average price of $278.43.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Friday, November 14th. The semiconductor company reported $14.32 earnings per share for the quarter. Taiwan Semiconductor Manufacturing had a return on equity of 36.18% and a net margin of 45.13%.The business had revenue of $32.50 billion during the quarter. Equities analysts predict that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 17th will be given a $0.9678 dividend. This represents a $3.87 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, March 17th. Taiwan Semiconductor Manufacturing’s payout ratio is currently 23.57%.

Taiwan Semiconductor Manufacturing Profile

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC’s service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.