Covenant Asset Management LLC Buys Shares of 18,600 Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Covenant Asset Management LLC acquired a new position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 18,600 shares of the semiconductor company’s stock, valued at approximately $3,673,000.

A number of other institutional investors also recently modified their holdings of TSM. WealthPlan Investment Management LLC boosted its stake in Taiwan Semiconductor Manufacturing by 43.3% during the fourth quarter. WealthPlan Investment Management LLC now owns 1,790 shares of the semiconductor company’s stock valued at $354,000 after buying an additional 541 shares during the period. Myriad Asset Management US LP bought a new stake in Taiwan Semiconductor Manufacturing in the fourth quarter worth $2,733,000. Nations Financial Group Inc. IA ADV lifted its stake in shares of Taiwan Semiconductor Manufacturing by 1.3% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 9,004 shares of the semiconductor company’s stock valued at $1,778,000 after acquiring an additional 116 shares during the last quarter. Center for Financial Planning Inc. boosted its stake in shares of Taiwan Semiconductor Manufacturing by 125.0% during the fourth quarter. Center for Financial Planning Inc. now owns 270 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 150 shares during the period. Finally, PUREfi Wealth LLC bought a new stake in Taiwan Semiconductor Manufacturing in the 4th quarter worth $594,000. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM opened at $203.77 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.30 and a current ratio of 2.57. The stock has a market capitalization of $1.06 trillion, a PE ratio of 28.94, a PEG ratio of 0.70 and a beta of 1.06. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $122.91 and a fifty-two week high of $226.40. The company has a 50 day moving average price of $205.24 and a 200-day moving average price of $188.67.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. Equities analysts predict that Taiwan Semiconductor Manufacturing Company Limited will post 9.12 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.6855 per share. This represents a $2.74 annualized dividend and a yield of 1.35%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, June 12th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 27.27%.

Wall Street Analyst Weigh In

TSM has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, January 16th. Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Barclays lifted their price target on shares of Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, StockNews.com cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Taiwan Semiconductor Manufacturing currently has an average rating of “Moderate Buy” and an average target price of $220.00.

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.