Suvretta Capital Management LLC Lowers Stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Suvretta Capital Management LLC lowered its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 0.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 348,742 shares of the semiconductor company’s stock after selling 2,010 shares during the period. Taiwan Semiconductor Manufacturing makes up approximately 1.9% of Suvretta Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Suvretta Capital Management LLC’s holdings in Taiwan Semiconductor Manufacturing were worth $60,566,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TSM. PineStone Asset Management Inc. boosted its position in shares of Taiwan Semiconductor Manufacturing by 116.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,784,316 shares of the semiconductor company’s stock worth $1,352,992,000 after purchasing an additional 4,186,133 shares during the period. FMR LLC boosted its position in shares of Taiwan Semiconductor Manufacturing by 7.2% during the 3rd quarter. FMR LLC now owns 55,974,769 shares of the semiconductor company’s stock worth $9,721,138,000 after purchasing an additional 3,783,802 shares during the period. Clearbridge Investments LLC boosted its position in shares of Taiwan Semiconductor Manufacturing by 669.7% during the 2nd quarter. Clearbridge Investments LLC now owns 3,721,489 shares of the semiconductor company’s stock worth $646,832,000 after purchasing an additional 3,237,998 shares during the period. 1832 Asset Management L.P. boosted its position in shares of Taiwan Semiconductor Manufacturing by 1,226.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,983,830 shares of the semiconductor company’s stock worth $344,809,000 after purchasing an additional 1,834,298 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 799.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,899,088 shares of the semiconductor company’s stock worth $329,815,000 after buying an additional 1,687,886 shares in the last quarter. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Price Performance

Shares of TSM opened at $181.19 on Friday. Taiwan Semiconductor Manufacturing Company Limited has a twelve month low of $95.25 and a twelve month high of $212.60. The firm’s fifty day simple moving average is $188.95 and its 200-day simple moving average is $174.75. The firm has a market capitalization of $939.73 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 0.84 and a beta of 1.12. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.44%. The business had revenue of $23.50 billion for the quarter, compared to analyst estimates of $22.72 billion. Equities analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Tuesday, March 18th will be issued a $0.5484 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 1.21%. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date is Tuesday, March 18th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is presently 31.57%.

Wall Street Analyst Weigh In

TSM has been the topic of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, October 17th. Barclays increased their target price on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Susquehanna reiterated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Finally, StockNews.com lowered shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $214.00.

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.