Grimes & Company Inc. Sells 4,183 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Grimes & Company Inc. trimmed its stake in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 2.3% in the third quarter, HoldingsChannel.com reports. The fund owned 178,993 shares of the semiconductor company’s stock after selling 4,183 shares during the quarter. Taiwan Semiconductor Manufacturing comprises about 0.8% of Grimes & Company Inc.’s investment portfolio, making the stock its 23rd biggest position. Grimes & Company Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $31,086,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing during the 2nd quarter worth $25,000. Olistico Wealth LLC acquired a new position in Taiwan Semiconductor Manufacturing in the 2nd quarter worth about $27,000. Valley Wealth Managers Inc. acquired a new position in Taiwan Semiconductor Manufacturing in the 2nd quarter worth about $27,000. North Star Investment Management Corp. increased its holdings in Taiwan Semiconductor Manufacturing by 670.4% in the 1st quarter. North Star Investment Management Corp. now owns 208 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 181 shares in the last quarter. Finally, NewSquare Capital LLC acquired a new position in Taiwan Semiconductor Manufacturing in the 2nd quarter worth about $29,000. Institutional investors and hedge funds own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Trading Down 1.0 %

Shares of NYSE TSM traded down $1.99 during trading on Thursday, reaching $198.87. The company had a trading volume of 1,854,293 shares, compared to its average volume of 15,540,408. The company’s fifty day moving average price is $177.14 and its 200-day moving average price is $165.51. Taiwan Semiconductor Manufacturing Company Limited has a 12 month low of $84.95 and a 12 month high of $212.60. The stock has a market cap of $1.03 trillion, a P/E ratio of 32.17, a PEG ratio of 0.96 and a beta of 1.14. The company has a quick ratio of 2.21, a current ratio of 2.47 and a debt-to-equity ratio of 0.26.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.4871 per share. This is a positive change from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.95 annualized dividend and a dividend yield of 0.98%. Taiwan Semiconductor Manufacturing’s dividend payout ratio is presently 31.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSM. Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of Taiwan Semiconductor Manufacturing in a report on Thursday, October 17th. Barclays upped 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. Finally, TD Cowen upped their target price on Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.