Van ECK Associates Corp Purchases 750,971 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Van ECK Associates Corp raised its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 4.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 18,167,165 shares of the semiconductor company’s stock after acquiring an additional 750,971 shares during the quarter. Taiwan Semiconductor Manufacturing comprises 4.5% of Van ECK Associates Corp’s portfolio, making the stock its 2nd biggest holding. Van ECK Associates Corp’s holdings in Taiwan Semiconductor Manufacturing were worth $3,157,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Johnson Financial Group Inc. bought a new position in Taiwan Semiconductor Manufacturing in the 4th quarter worth $25,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter worth about $25,000. LifeSteps Financial Inc. acquired a new stake in Taiwan Semiconductor Manufacturing in the 1st quarter valued at approximately $27,000. Olistico Wealth LLC bought a new position in Taiwan Semiconductor Manufacturing in the 2nd quarter worth approximately $27,000. Finally, North Star Investment Management Corp. lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 670.4% during the first quarter. North Star Investment Management Corp. now owns 208 shares of the semiconductor company’s stock worth $28,000 after buying an additional 181 shares during the last quarter. Institutional investors and hedge funds own 16.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSM. Sanford C. Bernstein boosted their target price on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. Barclays upped their price objective on shares of Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. Needham & Company LLC increased their target price on shares of Taiwan Semiconductor Manufacturing from $168.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Susquehanna restated a “positive” rating and set a $250.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Wednesday, August 14th. Finally, TD Cowen raised their price objective on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.00.

Taiwan Semiconductor Manufacturing Price Performance

Shares of Taiwan Semiconductor Manufacturing stock traded up $2.55 during mid-day trading on Friday, reaching $171.70. 9,481,403 shares of the stock were exchanged, compared to its average volume of 15,950,570. The company has a market cap of $890.51 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $84.01 and a fifty-two week high of $193.47. The company has a current ratio of 2.47, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. The firm has a 50-day simple moving average of $170.68 and a 200 day simple moving average of $154.06.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Thursday, July 18th. The semiconductor company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. The firm had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.33 billion. Taiwan Semiconductor Manufacturing had a return on equity of 25.54% and a net margin of 37.85%. The business’s revenue was up 34.6% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. On average, sell-side analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 6.45 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.4871 per share. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, December 12th. This represents a $1.95 annualized dividend and a yield of 1.13%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 32.57%.

About Taiwan Semiconductor Manufacturing

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.