Essex Financial Services Inc. Cuts Stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Essex Financial Services Inc. lessened its stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,480 shares of the semiconductor company’s stock after selling 100 shares during the period. Essex Financial Services Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. grew its holdings in Taiwan Semiconductor Manufacturing by 2.0% in the 4th quarter. Mather Group LLC. now owns 4,819 shares of the semiconductor company’s stock valued at $501,000 after buying an additional 96 shares in the last quarter. Atlas Private Wealth Advisors boosted its stake in shares of Taiwan Semiconductor Manufacturing by 3.3% in the fourth quarter. Atlas Private Wealth Advisors now owns 3,288 shares of the semiconductor company’s stock valued at $342,000 after buying an additional 104 shares in the last quarter. Advisory Resource Group boosted its position in Taiwan Semiconductor Manufacturing by 1.3% during the fourth quarter. Advisory Resource Group now owns 8,523 shares of the semiconductor company’s stock worth $886,000 after purchasing an additional 108 shares in the last quarter. Intrust Bank NA raised its holdings in shares of Taiwan Semiconductor Manufacturing by 0.8% in the fourth quarter. Intrust Bank NA now owns 14,187 shares of the semiconductor company’s stock worth $1,475,000 after acquiring an additional 111 shares during the last quarter. Finally, Baystate Wealth Management LLC increased its stake in Taiwan Semiconductor Manufacturing by 28.8% in the fourth quarter. Baystate Wealth Management LLC now owns 510 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Stock Performance

Shares of Taiwan Semiconductor Manufacturing stock opened at $136.29 on Friday. The firm has a fifty day moving average of $137.88 and a two-hundred day moving average of $115.91. The stock has a market capitalization of $706.86 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 0.96 and a beta of 1.13. Taiwan Semiconductor Manufacturing Company Limited has a 52 week low of $82.44 and a 52 week high of $158.40. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.06 and a current ratio of 2.33.

Taiwan Semiconductor Manufacturing Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Thursday, June 13th will be paid a $0.4408 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, June 13th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 32.76%.

Analysts Set New Price Targets

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

Taiwan Semiconductor Manufacturing 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.