Meridian Investment Counsel Inc. Cuts Stock Holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Meridian Investment Counsel Inc. decreased its holdings in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,672 shares of the semiconductor company’s stock after selling 2,159 shares during the period. Taiwan Semiconductor Manufacturing accounts for about 5.5% of Meridian Investment Counsel Inc.’s holdings, making the stock its largest holding. Meridian Investment Counsel Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $18,178,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TSM. Atlantic Edge Private Wealth Management LLC purchased a new stake in Taiwan Semiconductor Manufacturing in the second quarter worth $25,000. Reston Wealth Management LLC purchased a new stake in shares of Taiwan Semiconductor Manufacturing in the 3rd quarter worth about $25,000. Olistico Wealth LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter worth about $27,000. Valley Wealth Managers Inc. purchased a new position in Taiwan Semiconductor Manufacturing during the 2nd quarter valued at about $27,000. Finally, NewSquare Capital LLC bought a new stake in Taiwan Semiconductor Manufacturing during the second quarter worth about $29,000. 16.51% of the stock is currently owned by institutional investors.

Taiwan Semiconductor Manufacturing Stock Performance

TSM stock opened at $186.03 on Friday. The stock has a market capitalization of $964.83 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 0.89 and a beta of 1.12. The stock’s 50 day simple moving average is $185.79 and its 200 day simple moving average is $171.92. Taiwan Semiconductor Manufacturing Company Limited has a 12-month low of $95.25 and a 12-month high of $212.60. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.23.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Thursday, October 17th. The semiconductor company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.74 by $0.20. The company had revenue of $23.50 billion during the quarter, compared to the consensus estimate of $22.72 billion. Taiwan Semiconductor Manufacturing had a return on equity of 27.30% and a net margin of 39.10%. As a group, research analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 6.73 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be given a $0.5484 dividend. This represents a $2.19 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. Taiwan Semiconductor Manufacturing’s payout ratio is 31.57%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research report on Thursday, October 17th. Barclays boosted their target price on Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $209.00.

About Taiwan Semiconductor Manufacturing

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.