Covenant Asset Management LLC Takes $3.67 Million Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Covenant Asset Management LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,600 shares of the semiconductor company’s stock, valued at approximately $3,673,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Reston Wealth Management LLC purchased a new stake in Taiwan Semiconductor Manufacturing in the 3rd quarter worth approximately $25,000. Stonebridge Financial Group LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth about $25,000. Archer Investment Corp boosted its position in shares of Taiwan Semiconductor Manufacturing by 48.1% in the third quarter. Archer Investment Corp now owns 191 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 62 shares during the period. American Capital Advisory LLC acquired a new stake in Taiwan Semiconductor Manufacturing in the 3rd quarter worth $38,000. Finally, OLD Second National Bank of Aurora increased its stake in Taiwan Semiconductor Manufacturing by 169.8% during the third quarter. OLD Second National Bank of Aurora now owns 232 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 146 shares during the period. Institutional investors and hedge funds own 16.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on TSM. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, January 16th. Barclays boosted their price objective on shares of Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. StockNews.com lowered shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Susquehanna restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research report on Friday, October 18th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $220.00.

Taiwan Semiconductor Manufacturing Stock Up 1.0 %

TSM stock opened at $203.77 on Friday. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $122.91 and a fifty-two week high of $226.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.57 and a quick ratio of 2.30. The business’s fifty day moving average price is $205.24 and its two-hundred day moving average price is $188.67. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 28.94, a PEG ratio of 0.70 and a beta of 1.06.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a return on equity of 30.47% and a net margin of 40.51%. On average, equities analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 9.12 earnings per share for the current year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be issued a $0.6855 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $2.74 annualized dividend and a yield of 1.35%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 27.27%.

Taiwan Semiconductor Manufacturing 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.