Meridian Investment Counsel Inc. Lowers Stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Meridian Investment Counsel Inc. decreased its holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,672 shares of the semiconductor company’s stock after selling 2,159 shares during the quarter. Taiwan Semiconductor Manufacturing accounts for about 5.5% of Meridian Investment Counsel Inc.’s investment portfolio, making the stock its largest position. Meridian Investment Counsel Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $18,178,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSM. Atlantic Edge Private Wealth Management LLC bought a new stake in Taiwan Semiconductor Manufacturing during the 2nd quarter worth approximately $25,000. Reston Wealth Management LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing during the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter valued at $27,000. Olistico Wealth LLC bought a new position in Taiwan Semiconductor Manufacturing in the 2nd quarter worth $27,000. Finally, NewSquare Capital LLC purchased a new stake in Taiwan Semiconductor Manufacturing in the 2nd quarter worth $29,000. 16.51% of the stock is owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Trading Down 1.3 %

TSM stock opened at $186.03 on Friday. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $95.25 and a fifty-two week high of $212.60. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.30 and a current ratio of 2.57. The firm has a fifty day moving average price of $185.79 and a 200 day moving average price of $171.92. The firm has a market cap of $964.83 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 0.89 and a beta of 1.12.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.30%. The firm had revenue of $23.50 billion for the quarter, compared to analysts’ expectations of $22.72 billion. Sell-side analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.73 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.5484 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.19 annualized dividend and a dividend yield of 1.18%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s payout ratio is currently 31.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TSM shares. Barclays upped their price objective on Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. StockNews.com upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.00.

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.