Connective Capital Management LLC Purchases New Stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Connective Capital Management LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,561 shares of the semiconductor company’s stock, valued at approximately $1,488,000. Taiwan Semiconductor Manufacturing accounts for about 2.7% of Connective Capital Management LLC’s portfolio, making the stock its 13th biggest holding.

A number of other large investors have also added to or reduced their stakes in TSM. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter valued at $25,000. LifeSteps Financial Inc. bought a new position in Taiwan Semiconductor Manufacturing during the first quarter valued at about $27,000. Olistico Wealth LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the second quarter valued at about $27,000. Valley Wealth Managers Inc. bought a new stake in Taiwan Semiconductor Manufacturing during the 2nd quarter valued at $27,000. Finally, North Star Investment Management Corp. boosted its holdings in shares of Taiwan Semiconductor Manufacturing by 670.4% in the first quarter. North Star Investment Management Corp. now owns 208 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 181 shares during the period. Institutional investors and hedge funds own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Price Performance

Taiwan Semiconductor Manufacturing stock opened at $177.97 on Monday. The business has a 50 day simple moving average of $167.50 and a 200-day simple moving average of $159.40. Taiwan Semiconductor Manufacturing Company Limited has a 12 month low of $84.95 and a 12 month high of $193.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.47 and a quick ratio of 2.21. The stock has a market capitalization of $923.03 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 1.07 and a beta of 1.14.

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

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently disclosed 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 represents a $1.95 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, December 12th. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 37.71%.

Analyst Upgrades and Downgrades

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

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.