Stonegate Investment Group LLC Takes $10.76 Million Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Stonegate Investment Group LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) during the first quarter, HoldingsChannel.com reports. The fund purchased 79,064 shares of the semiconductor company’s stock, valued at approximately $10,757,000.

Other institutional investors have also recently made changes to their positions in the company. Johnson Financial Group Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $25,000. Financial Gravity Asset Management Inc. lifted its stake in shares of Taiwan Semiconductor Manufacturing by 208.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 312 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 211 shares during the period. Sachetta LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $29,000. Farmers & Merchants Investments Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter worth approximately $31,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Taiwan Semiconductor Manufacturing by 108.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 311 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 162 shares during the period. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Needham & Company LLC reiterated a “buy” rating and issued a $168.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, April 18th. Barclays increased their price objective on shares of Taiwan Semiconductor Manufacturing from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Susquehanna raised their target price on shares of Taiwan Semiconductor Manufacturing from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Tuesday, April 2nd. Finally, TD Cowen raised their target price on shares of Taiwan Semiconductor Manufacturing from $100.00 to $130.00 and gave the stock a “hold” rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.00.

Taiwan Semiconductor Manufacturing Stock Performance

NYSE TSM traded down $1.06 on Tuesday, reaching $137.44. 10,964,389 shares of the stock were exchanged, compared to its average volume of 15,683,780. Taiwan Semiconductor Manufacturing Company Limited has a one year low of $82.44 and a one year high of $158.40. The firm has a market capitalization of $712.82 billion, a PE ratio of 26.18, a PEG ratio of 0.99 and a beta of 1.15. The company’s 50-day simple moving average is $137.54 and its two-hundred day simple moving average is $115.63. The company has a current ratio of 2.33, a quick ratio of 2.06 and a debt-to-equity ratio of 0.27.

Taiwan Semiconductor Manufacturing Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.4408 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Thursday, June 13th. Taiwan Semiconductor Manufacturing’s payout ratio is 32.76%.

Taiwan Semiconductor Manufacturing Company 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.