Pinebridge Investments L.P. Sells 12,685 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Pinebridge Investments L.P. lowered its stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 52.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,631 shares of the semiconductor company’s stock after selling 12,685 shares during the quarter. Pinebridge Investments L.P.’s holdings in Taiwan Semiconductor Manufacturing were worth $2,297,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Taiwan Semiconductor Manufacturing by 67.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company’s stock valued at $2,047,065,000 after acquiring an additional 4,158,772 shares during the period. Jennison Associates LLC boosted its holdings in Taiwan Semiconductor Manufacturing by 72.9% in the 4th quarter. Jennison Associates LLC now owns 6,949,520 shares of the semiconductor company’s stock valued at $1,372,461,000 after purchasing an additional 2,931,209 shares during the period. FMR LLC boosted its holdings in Taiwan Semiconductor Manufacturing by 4.6% in the 4th quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company’s stock valued at $11,562,498,000 after purchasing an additional 2,572,488 shares during the period. Franklin Resources Inc. increased its holdings in shares of Taiwan Semiconductor Manufacturing by 32.3% in the fourth quarter. Franklin Resources Inc. now owns 8,498,063 shares of the semiconductor company’s stock worth $1,678,283,000 after purchasing an additional 2,074,329 shares during the period. Finally, Alphinity Investment Management Pty Ltd bought a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter worth $349,241,000. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TSM. StockNews.com cut Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Susquehanna reissued a “positive” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, April 17th. Finally, Barclays reissued a “hold” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Taiwan Semiconductor Manufacturing has an average rating of “Moderate Buy” and a consensus target price of $212.00.

Taiwan Semiconductor Manufacturing Price Performance

Shares of Taiwan Semiconductor Manufacturing stock opened at $165.28 on Friday. The business’s 50-day moving average price is $169.09 and its 200-day moving average price is $189.16. The firm has a market capitalization of $857.21 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 0.66 and a beta of 1.16. Taiwan Semiconductor Manufacturing Company Limited has a 12 month low of $133.21 and a 12 month high of $226.40. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. The firm had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $834.10 billion. Sell-side analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.6855 per share. This represents a $2.74 annualized dividend and a yield of 1.66%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, June 12th. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 27.76%.

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.