DnB Asset Management AS Cuts Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

DnB Asset Management AS lessened its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 12.9% during the fourth quarter, Holdings Channel reports. The fund owned 932,289 shares of the semiconductor company’s stock after selling 138,273 shares during the period. Taiwan Semiconductor Manufacturing comprises 0.8% of DnB Asset Management AS’s holdings, making the stock its 21st biggest holding. DnB Asset Management AS’s holdings in Taiwan Semiconductor Manufacturing were worth $184,192,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TSM. Van ECK Associates Corp raised its holdings in shares of Taiwan Semiconductor Manufacturing by 6.0% during the 4th quarter. Van ECK Associates Corp now owns 19,392,159 shares of the semiconductor company’s stock valued at $3,829,757,000 after buying an additional 1,102,166 shares in the last quarter. GQG Partners LLC raised its stake in shares of Taiwan Semiconductor Manufacturing by 11.0% during the fourth quarter. GQG Partners LLC now owns 7,819,269 shares of the semiconductor company’s stock worth $1,544,227,000 after acquiring an additional 777,090 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Taiwan Semiconductor Manufacturing by 72.9% in the 4th quarter. Jennison Associates LLC now owns 6,949,520 shares of the semiconductor company’s stock worth $1,372,461,000 after acquiring an additional 2,931,209 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 19.9% during the 3rd quarter. Janus Henderson Group PLC now owns 6,485,854 shares of the semiconductor company’s stock valued at $1,126,420,000 after purchasing an additional 1,075,425 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Taiwan Semiconductor Manufacturing by 13.2% in the 3rd quarter. Franklin Resources Inc. now owns 6,423,734 shares of the semiconductor company’s stock worth $1,234,706,000 after purchasing an additional 750,515 shares during the period. Institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of TSM stock opened at $168.68 on Friday. The firm has a market capitalization of $874.82 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 0.66 and a beta of 1.13. The stock has a fifty day moving average of $193.26 and a 200 day moving average of $192.32. Taiwan Semiconductor Manufacturing Company Limited has a 52 week low of $125.78 and a 52 week high of $226.40. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. As a group, research analysts expect that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be given a dividend of $0.6855 per share. The ex-dividend date of this dividend is Thursday, June 12th. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. This represents a $2.74 annualized dividend and a dividend yield of 1.63%. Taiwan Semiconductor Manufacturing’s payout ratio is currently 30.68%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSM. Barclays raised their price objective on Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, February 18th. Finally, StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $220.00.

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.