Canoe Financial LP Lowers Stake in Taiwan Semiconductor Manufacturing Company Ltd. $TSM

Canoe Financial LP lessened its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 11.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,344,173 shares of the semiconductor company’s stock after selling 167,400 shares during the period. Taiwan Semiconductor Manufacturing accounts for 5.4% of Canoe Financial LP’s investment portfolio, making the stock its largest position. Canoe Financial LP’s holdings in Taiwan Semiconductor Manufacturing were worth $375,414,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. 1248 Management LLC bought a new position in Taiwan Semiconductor Manufacturing during the first quarter worth about $28,000. Heartwood Wealth Advisors LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing during the 3rd quarter valued at approximately $32,000. Resources Management Corp CT ADV bought a new position in Taiwan Semiconductor Manufacturing in the 2nd quarter worth approximately $32,000. Mid American Wealth Advisory Group Inc. bought a new position in Taiwan Semiconductor Manufacturing in the 2nd quarter worth approximately $33,000. Finally, First Command Advisory Services Inc. grew its stake in Taiwan Semiconductor Manufacturing by 174.1% in the 2nd quarter. First Command Advisory Services Inc. now owns 159 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TSM shares. Itau BBA Securities began coverage on Taiwan Semiconductor Manufacturing in a research report on Tuesday, October 7th. They set an “outperform” rating on the stock. Susquehanna increased their price objective on Taiwan Semiconductor Manufacturing from $300.00 to $400.00 and gave the stock a “positive” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Taiwan Semiconductor Manufacturing in a report on Monday. Barclays upped their price target on Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Finally, Wall Street Zen upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research report on Sunday, December 14th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $355.00.

Taiwan Semiconductor Manufacturing Price Performance

Shares of NYSE TSM opened at $298.23 on Friday. The stock’s 50-day simple moving average is $292.18 and its two-hundred day simple moving average is $262.07. Taiwan Semiconductor Manufacturing Company Ltd. has a twelve month low of $134.25 and a twelve month high of $313.98. The firm has a market capitalization of $1.55 trillion, a P/E ratio of 30.59, a P/E/G ratio of 1.02 and a beta of 1.31. The company has a quick ratio of 2.47, a current ratio of 2.69 and a debt-to-equity ratio of 0.19.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last issued its quarterly earnings results on Friday, November 14th. The semiconductor company reported $14.32 earnings per share (EPS) for the quarter. Taiwan Semiconductor Manufacturing had a return on equity of 34.34% and a net margin of 43.72%. As a group, equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post 9.2 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 17th will be paid a $0.9678 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $3.87 dividend on an annualized basis and a yield of 1.3%. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.83. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 25.85%.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Company (TSMC) is a leading pure-play semiconductor foundry that provides wafer fabrication and related services to the global semiconductor industry. Founded in 1987 by Morris Chang and headquartered in Hsinchu, Taiwan, TSMC manufactures integrated circuits on behalf of fabless and integrated device manufacturers, offering contract chip production across a broad set of technologies and products.

TSMC’s service offering covers logic and mixed-signal process technologies, specialty processes for radio-frequency, power management and embedded memory, and advanced nodes used in mobile, high-performance computing and AI applications.