Princeton Global Asset Management LLC Cuts Holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Princeton Global Asset Management LLC lowered its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 0.7% in the first quarter, Holdings Channel.com reports. The firm owned 103,236 shares of the semiconductor company’s stock after selling 696 shares during the period. Taiwan Semiconductor Manufacturing comprises approximately 3.4% of Princeton Global Asset Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Princeton Global Asset Management LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $17,137,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in Taiwan Semiconductor Manufacturing during the fourth quarter worth about $25,000. IMG Wealth Management Inc. purchased a new position in Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $26,000. Hopwood Financial Services Inc. purchased a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at $27,000. Accredited Wealth Management LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the fourth quarter valued at about $31,000. Finally, Roxbury Financial LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Wall Street Analysts Forecast Growth

TSM has been the subject of several analyst reports. Barclays restated an “overweight” rating and issued a $240.00 target price (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Susquehanna reaffirmed a “positive” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, April 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Taiwan Semiconductor Manufacturing currently has an average rating of “Moderate Buy” and an average price target of $217.00.

Taiwan Semiconductor Manufacturing Stock Up 0.9%

Shares of NYSE:TSM opened at $205.10 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30. Taiwan Semiconductor Manufacturing Company Limited has a 1 year low of $133.57 and a 1 year high of $226.40. The company has a market cap of $1.06 trillion, a PE ratio of 29.13, a P/E/G ratio of 0.66 and a beta of 1.21. The stock’s 50-day moving average is $174.27 and its 200 day moving average is $187.88.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share (EPS) for the quarter, beating 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 company had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $834.10 billion. Sell-side analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 16th will be paid a $0.6499 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $2.60 annualized dividend and a dividend yield of 1.27%. Taiwan Semiconductor Manufacturing’s payout ratio is 30.46%.

Taiwan Semiconductor Manufacturing 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.