Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) Stake Lessened by Litman Gregory Wealth Management LLC

Litman Gregory Wealth Management LLC cut its stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 9.8% during the fourth quarter, HoldingsChannel reports. The fund owned 65,068 shares of the semiconductor company’s stock after selling 7,036 shares during the quarter. Litman Gregory Wealth Management LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $6,767,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. PCA Investment Advisory Services Inc. acquired a new position in shares of Taiwan Semiconductor Manufacturing in the second quarter worth $29,000. Farmers & Merchants Investments Inc. acquired a new position in Taiwan Semiconductor Manufacturing during the fourth quarter worth $31,000. Creative Financial Designs Inc. ADV increased its position in Taiwan Semiconductor Manufacturing by 108.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 311 shares of the semiconductor company’s stock worth $32,000 after buying an additional 162 shares during the last quarter. Financial Gravity Asset Management Inc. increased its position in Taiwan Semiconductor Manufacturing by 208.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 312 shares of the semiconductor company’s stock worth $27,000 after buying an additional 211 shares during the last quarter. Finally, Retirement Group LLC increased its position in Taiwan Semiconductor Manufacturing by 82.5% during the second quarter. Retirement Group LLC now owns 334 shares of the semiconductor company’s stock worth $34,000 after buying an additional 151 shares during the last quarter. 16.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on TSM. StockNews.com raised shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Needham & Company LLC reissued a “buy” rating and set a $168.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday. Susquehanna increased their target price on shares of Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Tuesday, April 2nd. Barclays upped their price target on shares of Taiwan Semiconductor Manufacturing from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday. Finally, TD Cowen increased their target price on shares of Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing currently has an average rating of “Moderate Buy” and a consensus price target of $157.00.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of NYSE TSM traded down $4.56 during mid-day trading on Friday, hitting $127.71. The company had a trading volume of 28,249,516 shares, compared to its average volume of 15,875,887. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.40 and a quick ratio of 2.13. The business’s 50-day simple moving average is $136.50 and its 200-day simple moving average is $113.02. Taiwan Semiconductor Manufacturing Company Limited has a 12 month low of $81.21 and a 12 month high of $158.40. The firm has a market cap of $662.36 billion, a P/E ratio of 24.65, a PEG ratio of 1.06 and a beta of 1.15.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, January 18th. The semiconductor company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.07. The firm had revenue of $19.62 billion during the quarter, compared to analysts’ expectations of $18.99 billion. Taiwan Semiconductor Manufacturing had a net margin of 38.80% and a return on equity of 25.24%. As a group, analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.15 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.4408 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Thursday, June 13th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 33.20%.

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 complementary metal oxide silicon wafer fabrication processes to manufacture logic, mixed-signal, radio frequency, and embedded memory semiconductors.