PNC Financial Services Group Inc. Sells 124,586 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

PNC Financial Services Group Inc. decreased its position in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 988,607 shares of the semiconductor company’s stock after selling 124,586 shares during the period. PNC Financial Services Group Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $195,240,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. FMR LLC boosted its stake in shares of Taiwan Semiconductor Manufacturing by 7.2% during the third quarter. FMR LLC now owns 55,974,769 shares of the semiconductor company’s stock valued at $9,721,138,000 after purchasing an additional 3,783,802 shares during the period. Fisher Asset Management LLC lifted its position in Taiwan Semiconductor Manufacturing by 1.3% during the third quarter. Fisher Asset Management LLC now owns 28,767,106 shares of the semiconductor company’s stock valued at $4,995,984,000 after acquiring an additional 359,854 shares during the last quarter. Van ECK Associates Corp boosted its stake in Taiwan Semiconductor Manufacturing by 6.0% in the fourth quarter. Van ECK Associates Corp now owns 19,392,159 shares of the semiconductor company’s stock valued at $3,829,757,000 after acquiring an additional 1,102,166 shares in the last quarter. WCM Investment Management LLC grew its holdings in Taiwan Semiconductor Manufacturing by 14.1% in the third quarter. WCM Investment Management LLC now owns 9,738,181 shares of the semiconductor company’s stock worth $1,733,104,000 after purchasing an additional 1,206,359 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 72.9% during the fourth quarter. Jennison Associates LLC now owns 6,949,520 shares of the semiconductor company’s stock worth $1,372,461,000 after purchasing an additional 2,931,209 shares in the last quarter. 16.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSM has been the subject of a number of recent analyst reports. StockNews.com cut Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Barclays lifted their price objective on shares of Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $220.00.

Taiwan Semiconductor Manufacturing Stock Up 0.4 %

TSM stock opened at $176.58 on Friday. Taiwan Semiconductor Manufacturing Company Limited has a 52 week low of $125.78 and a 52 week high of $226.40. The firm has a 50-day simple moving average of $202.05 and a 200-day simple moving average of $191.76. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $915.80 billion, a P/E ratio of 25.08, a P/E/G ratio of 0.66 and a beta of 1.13.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be given a $0.6855 dividend. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. This represents a $2.74 annualized dividend and a yield of 1.55%. The ex-dividend date is Thursday, June 12th. Taiwan Semiconductor Manufacturing’s payout ratio is currently 30.68%.

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.