Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) Shares Bought by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. grew its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 10.7% in the 1st quarter, Holdings Channel reports. The firm owned 2,950 shares of the semiconductor company’s stock after acquiring an additional 286 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Byrne Asset Management LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 11.6% in the first quarter. Byrne Asset Management LLC now owns 4,849 shares of the semiconductor company’s stock worth $660,000 after purchasing an additional 503 shares during the period. Nilsine Partners LLC boosted its position in shares of Taiwan Semiconductor Manufacturing by 12.1% in the 1st quarter. Nilsine Partners LLC now owns 14,665 shares of the semiconductor company’s stock valued at $1,995,000 after purchasing an additional 1,581 shares during the period. Bay Rivers Group purchased a new position in Taiwan Semiconductor Manufacturing in the 1st quarter worth about $211,000. PFG Investments LLC raised its holdings in Taiwan Semiconductor Manufacturing by 457.5% during the 1st quarter. PFG Investments LLC now owns 21,592 shares of the semiconductor company’s stock worth $2,938,000 after buying an additional 17,719 shares during the period. Finally, Altfest L J & Co. Inc. increased its position in shares of Taiwan Semiconductor Manufacturing by 31.0% in the first quarter. Altfest L J & Co. Inc. now owns 45,000 shares of the semiconductor company’s stock worth $6,122,000 after acquiring an additional 10,638 shares in the last quarter. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Stock Performance

TSM traded down $1.06 on Tuesday, hitting $137.44. The company had a trading volume of 10,964,389 shares, compared to its average volume of 15,683,780. Taiwan Semiconductor Manufacturing Company Limited has a 1-year low of $82.44 and a 1-year high of $158.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 2.06. The company’s fifty day moving average price is $137.54 and its 200 day moving average price is $115.63. The stock has a market cap of $712.82 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 0.99 and a beta of 1.15.

Taiwan Semiconductor Manufacturing Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

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.