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

Hickory Asset Management Inc. trimmed its holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 3.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,059 shares of the semiconductor company’s stock after selling 166 shares during the quarter. Hickory Asset Management Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $674,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Taiwan Semiconductor Manufacturing by 67.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,365,404 shares of the semiconductor company’s stock worth $2,047,065,000 after acquiring an additional 4,158,772 shares during the period. FMR LLC raised its position in shares of Taiwan Semiconductor Manufacturing by 4.6% in the fourth quarter. FMR LLC now owns 58,547,257 shares of the semiconductor company’s stock worth $11,562,498,000 after acquiring an additional 2,572,488 shares during the period. Sarasin & Partners LLP acquired a new position in shares of Taiwan Semiconductor Manufacturing in the first quarter worth about $362,773,000. Franklin Resources Inc. raised its position in shares of Taiwan Semiconductor Manufacturing by 32.3% in the fourth quarter. Franklin Resources Inc. now owns 8,498,063 shares of the semiconductor company’s stock worth $1,678,283,000 after acquiring an additional 2,074,329 shares during the period. Finally, Northern Trust Corp raised its position in shares of Taiwan Semiconductor Manufacturing by 45.2% during the 4th quarter. Northern Trust Corp now owns 6,244,965 shares of the semiconductor company’s stock worth $1,233,318,000 after purchasing an additional 1,944,328 shares during the last quarter. 16.51% of the stock is owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Stock Performance

Taiwan Semiconductor Manufacturing stock opened at $211.07 on Friday. The firm has a 50 day simple moving average of $180.24 and a 200-day simple moving average of $188.72. Taiwan Semiconductor Manufacturing Company Limited has a 1-year low of $133.57 and a 1-year high of $226.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30. The stock has a market cap of $1.09 trillion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 0.66 and a beta of 1.27.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its quarterly earnings results on Thursday, April 17th. The semiconductor company reported $2.12 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $834.10 billion. On average, analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 EPS for the current year.

Taiwan Semiconductor Manufacturing Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TSM shares. Susquehanna restated a “positive” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, April 25th. Citigroup restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, May 22nd. Barclays reiterated an “overweight” rating and issued a $240.00 price objective (up previously from $215.00) on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, June 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average 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.