Covenant Partners LLC Sells 1,950 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Covenant Partners LLC lowered its holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 61.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,239 shares of the semiconductor company’s stock after selling 1,950 shares during the quarter. Covenant Partners LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $215,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TSM. Brookstone Capital Management lifted its stake in shares of Taiwan Semiconductor Manufacturing by 12.0% during the 1st quarter. Brookstone Capital Management now owns 7,436 shares of the semiconductor company’s stock worth $1,012,000 after purchasing an additional 798 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Taiwan Semiconductor Manufacturing by 68.1% in the first quarter. Wealthcare Advisory Partners LLC now owns 4,546 shares of the semiconductor company’s stock worth $618,000 after purchasing an additional 1,842 shares in the last quarter. Capital Asset Advisory Services LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the first quarter valued at about $378,000. Toth Financial Advisory Corp grew its position in shares of Taiwan Semiconductor Manufacturing by 3.3% in the 1st quarter. Toth Financial Advisory Corp now owns 2,288 shares of the semiconductor company’s stock worth $311,000 after buying an additional 74 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing during the 1st quarter worth approximately $361,000. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Barclays lifted their price target on shares of Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, October 17th. Susquehanna reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Finally, TD Cowen boosted their price target on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Taiwan Semiconductor Manufacturing currently has a consensus rating of “Moderate Buy” and an average price target of $209.00.

Taiwan Semiconductor Manufacturing Stock Performance

TSM traded up $5.51 on Friday, reaching $203.44. 13,434,862 shares of the stock were exchanged, compared to its average volume of 15,571,556. The company’s 50-day moving average price is $178.19 and its 200 day moving average price is $166.16. 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 firm has a market capitalization of $1.06 trillion, a PE ratio of 38.73, a PEG ratio of 0.96 and a beta of 1.14. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $84.95 and a fifty-two week high of $212.60.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a $0.4871 dividend. This represents a $1.95 annualized dividend and a yield of 0.96%. The ex-dividend date 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 36.95%.

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.