State of Michigan Retirement System Sells 39,000 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

State of Michigan Retirement System decreased its holdings in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 13.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 242,600 shares of the semiconductor company’s stock after selling 39,000 shares during the quarter. State of Michigan Retirement System’s holdings in Taiwan Semiconductor Manufacturing were worth $33,006,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Toronto Dominion Bank lifted its position in shares of Taiwan Semiconductor Manufacturing by 4.7% during the third quarter. Toronto Dominion Bank now owns 14,176 shares of the semiconductor company’s stock worth $1,232,000 after purchasing an additional 631 shares during the last quarter. Waverly Advisors LLC increased its stake in Taiwan Semiconductor Manufacturing by 3.8% in the 3rd quarter. Waverly Advisors LLC now owns 3,145 shares of the semiconductor company’s stock worth $273,000 after buying an additional 116 shares during the period. SRS Capital Advisors Inc. lifted its holdings in Taiwan Semiconductor Manufacturing by 14.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the semiconductor company’s stock valued at $98,000 after buying an additional 142 shares in the last quarter. Insigneo Advisory Services LLC boosted its position in Taiwan Semiconductor Manufacturing by 2.9% in the 3rd quarter. Insigneo Advisory Services LLC now owns 7,720 shares of the semiconductor company’s stock valued at $674,000 after buying an additional 218 shares during the period. Finally, Truist Financial Corp grew its stake in Taiwan Semiconductor Manufacturing by 1.9% in the 3rd quarter. Truist Financial Corp now owns 444,030 shares of the semiconductor company’s stock worth $38,586,000 after acquiring an additional 8,417 shares in the last quarter. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Stock Up 1.9 %

Shares of NYSE:TSM traded up $3.29 on Tuesday, reaching $175.62. The company had a trading volume of 10,646,245 shares, compared to its average volume of 15,043,256. The company has a current ratio of 2.39, a quick ratio of 2.13 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $910.84 billion, a PE ratio of 33.62, a PEG ratio of 1.19 and a beta of 1.14. Taiwan Semiconductor Manufacturing Company Limited has a 52-week low of $84.01 and a 52-week high of $184.86. The firm’s 50 day simple moving average is $156.61 and its 200-day simple moving average is $135.55.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Thursday, April 18th. The semiconductor company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.09. Taiwan Semiconductor Manufacturing had a net margin of 38.15% and a return on equity of 24.75%. The business had revenue of $18.87 billion during the quarter, compared to the consensus estimate of $18.38 billion. As a group, analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 6.13 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Thursday, September 12th will be paid a $0.4865 dividend. This represents a $1.95 annualized dividend and a yield of 1.11%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, September 12th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 32.76%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSM. StockNews.com raised shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Susquehanna upped their target price on Taiwan Semiconductor Manufacturing from $180.00 to $200.00 and gave the stock a “positive” rating in a report on Monday, June 17th. Needham & Company LLC reissued a “buy” rating and set a $168.00 price target on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, May 22nd. Barclays lifted their price objective on Taiwan Semiconductor Manufacturing from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. Finally, Sanford C. Bernstein increased their target price on shares of Taiwan Semiconductor Manufacturing from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.60.

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.