Procyon Advisors LLC Cuts Stock Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Procyon Advisors LLC cut its stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSMGet Rating) by 4.7% in the second quarter, Holdings Channel reports. The firm owned 2,815 shares of the semiconductor company’s stock after selling 140 shares during the period. Procyon Advisors LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Panagora Asset Management Inc. boosted its stake in Taiwan Semiconductor Manufacturing by 22.4% in the 1st quarter. Panagora Asset Management Inc. now owns 19,698 shares of the semiconductor company’s stock worth $2,054,000 after purchasing an additional 3,608 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in Taiwan Semiconductor Manufacturing by 15.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 432,554 shares of the semiconductor company’s stock worth $45,098,000 after purchasing an additional 59,398 shares in the last quarter. Kempner Capital Management Inc. acquired a new stake in Taiwan Semiconductor Manufacturing in the 1st quarter worth approximately $1,768,000. NewEdge Advisors LLC boosted its stake in Taiwan Semiconductor Manufacturing by 19.8% in the 1st quarter. NewEdge Advisors LLC now owns 317,800 shares of the semiconductor company’s stock worth $33,133,000 after purchasing an additional 52,508 shares in the last quarter. Finally, Vienna Asset Management LLC acquired a new stake in Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $1,225,000. 16.86% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Stock Up 0.4 %

TSM opened at $78.23 on Tuesday. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $73.74 and a fifty-two week high of $145.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.25. The company has a fifty day moving average of $84.82 and a two-hundred day moving average of $91.00. The stock has a market capitalization of $405.73 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.52 and a beta of 0.99.

Taiwan Semiconductor Manufacturing (NYSE:TSMGet Rating) last released its quarterly earnings data on Thursday, July 14th. The semiconductor company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. Taiwan Semiconductor Manufacturing had a net margin of 40.53% and a return on equity of 33.56%. The company had revenue of $18.16 billion during the quarter, compared to analysts’ expectations of $18.68 billion. On average, research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.24 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 12th. Shareholders of record on Friday, December 16th will be given a dividend of $0.458 per share. This represents a $1.83 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Thursday, December 15th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 27.22%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Susquehanna Bancshares lowered their target price on shares of Taiwan Semiconductor Manufacturing from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, July 14th. Susquehanna cut their price objective on shares of Taiwan Semiconductor Manufacturing from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, July 14th. Cowen set a $100.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, July 19th. Finally, Loop Capital initiated coverage on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, June 21st. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing currently has an average rating of “Moderate Buy” and an average target price of $120.14.

Taiwan Semiconductor Manufacturing Company Profile

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Taiwan Semiconductor Manufacturing Company Limited 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.

Further Reading

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

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