Canoe Financial LP Sells 1,205,141 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Canoe Financial LP decreased its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 70.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 504,596 shares of the semiconductor company’s stock after selling 1,205,141 shares during the quarter. Taiwan Semiconductor Manufacturing comprises 2.2% of Canoe Financial LP’s investment portfolio, making the stock its 16th largest holding. Canoe Financial LP’s holdings in Taiwan Semiconductor Manufacturing were worth $89,803,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Defender Capital LLC. boosted its holdings in Taiwan Semiconductor Manufacturing by 3.7% in the third quarter. Defender Capital LLC. now owns 1,565 shares of the semiconductor company’s stock valued at $272,000 after acquiring an additional 56 shares during the last quarter. Seed Wealth Management Inc. boosted its holdings in Taiwan Semiconductor Manufacturing by 1.3% in the second quarter. Seed Wealth Management Inc. now owns 4,558 shares of the semiconductor company’s stock valued at $792,000 after acquiring an additional 57 shares during the last quarter. Keudell Morrison Wealth Management boosted its holdings in Taiwan Semiconductor Manufacturing by 1.5% in the second quarter. Keudell Morrison Wealth Management now owns 4,027 shares of the semiconductor company’s stock valued at $700,000 after acquiring an additional 59 shares during the last quarter. Heron Bay Capital Management boosted its holdings in Taiwan Semiconductor Manufacturing by 1.0% in the second quarter. Heron Bay Capital Management now owns 5,710 shares of the semiconductor company’s stock valued at $992,000 after acquiring an additional 59 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its holdings in Taiwan Semiconductor Manufacturing by 0.4% in the third quarter. Azzad Asset Management Inc. ADV now owns 14,166 shares of the semiconductor company’s stock valued at $2,460,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Trading Up 2.8 %

NYSE:TSM opened at $203.44 on Monday. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $84.95 and a fifty-two week high of $212.60. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.47 and a quick ratio of 2.21. The stock has a market capitalization of $1.06 trillion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 0.98 and a beta of 1.14. The business’s 50-day simple moving average is $178.19 and its 200-day simple moving average is $166.45.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.4871 per share. This represents a $1.95 annualized dividend and a dividend yield of 0.96%. 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. Taiwan Semiconductor Manufacturing’s payout ratio is 31.57%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. TD Cowen raised their price target on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Barclays raised 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. Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, October 17th. Finally, Susquehanna restated a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.