Pinnacle Bancorp Inc. Sells 437 Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Pinnacle Bancorp Inc. lessened its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 27.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,147 shares of the semiconductor company’s stock after selling 437 shares during the period. Pinnacle Bancorp Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Heritage Wealth Advisors grew its stake in shares of Taiwan Semiconductor Manufacturing by 20.0% in the fourth quarter. Heritage Wealth Advisors now owns 300 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 50 shares during the last quarter. First Heartland Consultants Inc. boosted its holdings in Taiwan Semiconductor Manufacturing by 4.2% in the 4th quarter. First Heartland Consultants Inc. now owns 1,236 shares of the semiconductor company’s stock valued at $244,000 after purchasing an additional 50 shares during the period. Formidable Asset Management LLC grew its position in Taiwan Semiconductor Manufacturing by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 1,606 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 50 shares during the last quarter. Connecticut Wealth Management LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing by 0.7% during the 4th quarter. Connecticut Wealth Management LLC now owns 7,416 shares of the semiconductor company’s stock worth $1,465,000 after purchasing an additional 55 shares during the period. Finally, WealthCollab LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing by 6.7% during the 4th quarter. WealthCollab LLC now owns 891 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 16.51% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TSM. Barclays reissued an “overweight” rating and set a $240.00 target price (up from $215.00) on shares of Taiwan Semiconductor Manufacturing in a research report on Tuesday, June 3rd. Susquehanna lifted their price objective on Taiwan Semiconductor Manufacturing from $250.00 to $255.00 and gave the stock a “positive” rating in a report on Tuesday, June 17th. Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $222.50.

Taiwan Semiconductor Manufacturing Trading Up 1.1%

TSM stock opened at $222.56 on Thursday. Taiwan Semiconductor Manufacturing Company Ltd. has a 1-year low of $133.57 and a 1-year high of $226.40. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $190.02 and its 200-day moving average is $189.89. The firm has a market cap of $1.15 trillion, a P/E ratio of 28.61, a P/E/G ratio of 1.14 and a beta of 1.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results 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 return on equity of 31.43% and a net margin of 41.67%. The firm had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $834.10 billion. Equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently announced 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. This represents a $2.60 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Tuesday, September 16th. Taiwan Semiconductor Manufacturing’s payout ratio is 30.59%.

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.