Drake & Associates LLC Invests $348,000 in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Drake & Associates LLC acquired a new position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,004 shares of the semiconductor company’s stock, valued at approximately $348,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter worth about $25,000. Olistico Wealth LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the 2nd quarter worth approximately $27,000. Valley Wealth Managers Inc. acquired a new position in Taiwan Semiconductor Manufacturing during the 2nd quarter valued at approximately $27,000. North Star Investment Management Corp. raised 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 buying an additional 181 shares during the last quarter. Finally, NewSquare Capital LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the second quarter worth $29,000. 16.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TSM shares. Susquehanna reissued a “positive” rating and issued a $250.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Wednesday, August 14th. TD Cowen increased their price objective on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday. Finally, Sanford C. Bernstein increased their price target 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 equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.00.

Taiwan Semiconductor Manufacturing Stock Up 9.7 %

Shares of TSM stock opened at $205.74 on Friday. The company has a current ratio of 2.47, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. Taiwan Semiconductor Manufacturing Company Limited has a twelve month low of $84.95 and a twelve month high of $212.60. The stock has a 50 day moving average of $174.64 and a 200 day moving average of $163.69. The stock has a market cap of $1.07 trillion, a P/E ratio of 39.19, a P/E/G ratio of 1.13 and a beta of 1.14.

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

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.4871 per share. The ex-dividend date is Thursday, December 12th. This represents a $1.95 dividend on an annualized basis and a yield of 0.95%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 36.95%.

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.