Connable Office Inc. Increases Stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)

Connable Office Inc. raised its position in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 19.9% during the second quarter, Holdings Channel reports. The firm owned 40,340 shares of the semiconductor company’s stock after buying an additional 6,705 shares during the period. Connable Office Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $1,410,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sit Investment Associates Inc. raised its position in Taiwan Semiconductor Manufacturing by 107.7% in the second quarter. Sit Investment Associates Inc. now owns 5,400 shares of the semiconductor company’s stock worth $189,000 after buying an additional 2,800 shares during the period. Advisory Services Network LLC acquired a new position in Taiwan Semiconductor Manufacturing during the first quarter worth $184,000. U S Global Investors Inc acquired a new position in Taiwan Semiconductor Manufacturing during the first quarter worth $187,000. Ferguson Wellman Capital Management Inc. acquired a new position in Taiwan Semiconductor Manufacturing during the second quarter worth $205,000. Finally, Ingalls & Snyder LLC acquired a new position in Taiwan Semiconductor Manufacturing during the first quarter worth $205,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE TSM) opened at 36.46 on Thursday. The stock’s 50 day moving average is $35.83 and its 200-day moving average is $33.78. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $28.20 and a one year high of $36.96. The firm has a market cap of $189.08 billion, a P/E ratio of 16.42 and a beta of 0.77.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, July 13th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.08. Taiwan Semiconductor Manufacturing had a net margin of 36.11% and a return on equity of 25.65%. The business had revenue of $213.86 billion during the quarter, compared to analysts’ expectations of $214.25 billion. During the same period last year, the company earned $2.80 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post $2.15 EPS for the current fiscal year.

The firm also recently declared an annual dividend, which was paid on Thursday, July 20th. Shareholders of record on Wednesday, June 28th were issued a $0.927 dividend. This represents a dividend yield of 3.25%. The ex-dividend date was Monday, June 26th. This is an increase from Taiwan Semiconductor Manufacturing’s previous annual dividend of $0.74. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 42.59%.

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A number of research analysts have weighed in on the stock. Rosenblatt Securities set a $27.00 target price on shares of Taiwan Semiconductor Manufacturing and gave the stock a “buy” rating in a research note on Saturday, April 15th. BidaskClub lowered shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Thursday, June 15th. Credit Suisse Group lowered shares of Taiwan Semiconductor Manufacturing from an “outperform” rating to a “neutral” rating in a research note on Monday, May 15th. Finally, HSBC Holdings plc lowered shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $31.67.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Company Limited (TSMC) is a semiconductor foundry. The Company is engaged in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices and the manufacturing of masks. It operates through foundry segment.

Want to see what other hedge funds are holding TSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM).

Institutional Ownership by Quarter for Taiwan Semiconductor Manufacturing (NYSE:TSM)

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