Hickory Asset Management Inc. Lowers Stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Hickory Asset Management Inc. lowered its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 3.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,059 shares of the semiconductor company’s stock after selling 166 shares during the period. Hickory Asset Management Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $674,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TSM. Stonebridge Financial Group LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. purchased a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $26,000. Hopwood Financial Services Inc. purchased a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $27,000. City Holding Co. lifted its holdings in Taiwan Semiconductor Manufacturing by 238.0% during the 1st quarter. City Holding Co. now owns 169 shares of the semiconductor company’s stock worth $28,000 after buying an additional 119 shares in the last quarter. Finally, Roxbury Financial LLC acquired a new stake in Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM opened at $211.07 on Friday. Taiwan Semiconductor Manufacturing Company Limited has a twelve month low of $133.57 and a twelve month high of $226.40. The firm’s fifty day simple moving average is $180.24 and its 200-day simple moving average is $188.72. The firm has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 29.98, a PEG ratio of 0.66 and a beta of 1.27. 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 announced its quarterly earnings data on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $25.82 billion for the quarter, compared to analyst estimates of $834.10 billion. Equities analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 16th will be issued a $0.6499 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.23%. Taiwan Semiconductor Manufacturing’s payout ratio is 30.46%.

Analyst Ratings Changes

A number of research firms have issued reports on TSM. Barclays reiterated an “overweight” rating and set a $240.00 target price (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Needham & Company LLC reiterated a “buy” rating and set a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Susquehanna reiterated a “positive” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, April 25th. Finally, Citigroup reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $217.00.

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.