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Firestone Capital Management Grows Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

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Firestone Capital Management Grows Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) Posted by Frank Smitson on May 5th, 2021
Firestone Capital Management raised its position in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 209.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,218 shares of the semiconductor company’s stock after buying an additional 825 shares during the quarter. Firestone Capital Management’s holdings in Taiwan Semiconductor Manufacturing were worth $144,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of TSM. Sanders Capital LLC raised its holdings in Taiwan Semiconductor Manufacturing by 6.4% in the 4th quarter. Sanders Capital LLC now owns 44,058,914 shares of the semiconductor company’s stock worth $5,179,530,000 after purchasing an additional 2,658,204 shares during the period. Bank of New York Mellon Corp boosted its stake in Taiwan Semiconductor Manufacturing by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 40,759,216 shares of the semiconductor company’s stock valued at $4,444,385,000 after purchasing an additional 1,195,001 shares during the period. WCM Investment Management LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 3.3% during the 4th quarter. WCM Investment Management LLC now owns 33,404,614 shares of the semiconductor company’s stock worth $3,642,439,000 after purchasing an additional 1,055,240 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Taiwan Semiconductor Manufacturing by 0.5% in the fourth quarter. Fisher Asset Management LLC now owns 27,640,127 shares of the semiconductor company’s stock worth $3,013,880,000 after acquiring an additional 130,578 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $2,638,091,000. 18.27% of the stock is owned by hedge funds and other institutional investors. Get Taiwan Semiconductor Manufacturing alerts:
Several brokerages have recently commented on TSM. Sanford C. Bernstein raised shares of Taiwan Semiconductor Manufacturing from a “market perform” rating to an “outperform” rating and set a $149.00 price objective for the company in a research report on Tuesday, January 12th. Zacks Investment Research upgraded Taiwan Semiconductor Manufacturing from a “sell” rating to a “hold” rating in a report on Saturday, April 17th. Susquehanna reiterated a “sell” rating and issued a $74.00 price target on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, January 26th. Atlantic Securities initiated coverage on Taiwan Semiconductor Manufacturing in a report on Monday, April 19th. They issued a “neutral” rating for the company. Finally, Susquehanna Bancshares reiterated a “sell” rating and issued a $74.00 price objective on shares of Taiwan Semiconductor Manufacturing in a research note on Tuesday, January 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $110.60. Shares of NYSE TSM traded up $0.62 during mid-day trading on Wednesday, hitting $115.98. The company had a trading volume of 86,856 shares, compared to its average volume of 12,734,771. Taiwan Semiconductor Manufacturing Company Limited has a 1-year low of $49.38 and a 1-year high of $142.20. The business’s 50-day simple moving average is $118.48 and its 200 day simple moving average is $112.81. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.75 and a quick ratio of 1.56. The company has a market capitalization of $601.48 billion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 1.26 and a beta of 0.99.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Friday, June 18th will be given a dividend of $0.3527 per share. This represents a $1.41 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, June 17th. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is currently 41.00%.
About Taiwan Semiconductor Manufacturing
Taiwan Semiconductor Manufacturing Company Limited manufactures and sells integrated circuits and semiconductors. It also offers customer service, account management, and engineering services. The company serves customers in computer, communications, consumer, and industrial and standard segments in North America, Europe, Japan, China, and South Korea.
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