Pinnacle Associates Ltd. Decreases Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Pinnacle Associates Ltd. cut its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 4.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,289 shares of the semiconductor company’s stock after selling 620 shares during the period. Pinnacle Associates Ltd.’s holdings in Taiwan Semiconductor Manufacturing were worth $2,134,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Norden Group LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing during the first quarter valued at approximately $244,000. J.W. Cole Advisors Inc. raised its holdings in shares of Taiwan Semiconductor Manufacturing by 10.6% during the first quarter. J.W. Cole Advisors Inc. now owns 5,477 shares of the semiconductor company’s stock valued at $747,000 after purchasing an additional 526 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 9.0% during the first quarter. Private Advisor Group LLC now owns 50,560 shares of the semiconductor company’s stock valued at $6,879,000 after purchasing an additional 4,157 shares during the last quarter. Mission Wealth Management LP raised its holdings in shares of Taiwan Semiconductor Manufacturing by 17.0% during the first quarter. Mission Wealth Management LP now owns 6,625 shares of the semiconductor company’s stock valued at $901,000 after purchasing an additional 963 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 7.3% during the first quarter. Janney Montgomery Scott LLC now owns 333,581 shares of the semiconductor company’s stock valued at $45,384,000 after purchasing an additional 22,710 shares during the last quarter. 16.51% of the stock is owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of NYSE TSM opened at $192.99 on Friday. The firm has a fifty day moving average price of $180.45 and a 200-day moving average price of $167.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.57 and a quick ratio of 2.21. The stock has a market cap of $1.00 trillion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 0.94 and a beta of 1.14. Taiwan Semiconductor Manufacturing Company Limited has a 1 year low of $89.46 and a 1 year high of $212.60.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be paid a $0.4871 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $1.95 dividend on an annualized basis and a dividend yield of 1.01%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is 31.09%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSM. Susquehanna reissued a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. StockNews.com cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, October 17th. TD Cowen upped their target price on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Finally, Barclays upped their target price on shares of Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Taiwan Semiconductor Manufacturing presently has an average rating of “Moderate Buy” and an average target price of $209.00.

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.