W.G. Shaheen & Associates Increases Stake in Taiwan Semiconductor
W.G. Shaheen & Associates, operating as Whitney & Co, has raised its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM) by 5.4% during the first quarter of 2023. This institutional investor now holds a total of 37,741 shares, following the acquisition of an additional 1,921 shares during the quarter. As of the end of this period, W.G. Shaheen & Associates’ investment in Taiwan Semiconductor was valued at approximately $6,265,000.
Several other institutional investors have also adjusted their holdings in Taiwan Semiconductor. Notably, Wedbush Securities Inc. increased its position by 10.6%, acquiring 18,416 shares valued at $3,057,000. J.W. Coons Advisors LLC boosted its stake by 14.8%, now owning 3,574 shares worth $593,000. WESPAC Advisors SoCal LLC and Roundview Capital LLC also made increases of 1.2% and 2.4% respectively. Advisors Preferred LLC notably increased its position by an impressive 408.4%, now holding 1,566 shares valued at $264,000. Collectively, hedge funds and institutional investors own approximately 16.51% of the company’s stock.
Market Performance and Dividend Announcement
On October 4, 2023, shares of Taiwan Semiconductor opened at $234.47. The company boasts a market capitalization of $1.22 trillion, with a price-to-earnings (P/E) ratio of 26.74 and a price-to-earnings growth (P/E/G) ratio of 1.15. The firm has experienced a 12-month trading range between a low of $133.57 and a high of $248.28.
Recently, the company announced a quarterly dividend, set to be paid on October 9, 2023. Shareholders of record on September 16, 2023 will receive a dividend of $0.6499 per share. This amounts to an annualized dividend of $2.60 and a yield of 1.11%. The current dividend payout ratio stands at 28.16%.
Analysts Provide Updated Ratings
Research analysts have been active in providing new insights on Taiwan Semiconductor shares. Barclays reaffirmed an “overweight” rating, increasing its target price to $240.00 from $215.00. Citigroup reiterated a “buy” rating, while Needham & Company LLC issued a price target of $270.00. Additionally, Susquehanna set a price objective of $265.00, assigning a “positive” rating to the company.
Currently, one analyst has rated the stock with a hold rating, while four analysts have assigned a buy rating. According to MarketBeat.com, the consensus rating for Taiwan Semiconductor is classified as a “Moderate Buy,” with an average target price of $258.33.
Taiwan Semiconductor Manufacturing Company Limited, along with its subsidiaries, is a leading manufacturer of integrated circuits and semiconductor devices, serving markets in Taiwan, China, Europe, and the United States. The company specializes in various wafer fabrication processes, including complementary metal-oxide-semiconductor (CMOS), mixed-signal, and embedded memory technologies.
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