Pinnacle Associates Ltd. Sells 620 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Pinnacle Associates Ltd. lowered its holdings in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 4.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,289 shares of the semiconductor company’s stock after selling 620 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Taiwan Semiconductor Manufacturing were worth $2,134,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TSM. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter worth about $25,000. Olistico Wealth LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter worth about $27,000. Valley Wealth Managers Inc. bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter worth about $27,000. NewSquare Capital LLC bought a new stake in shares of Taiwan Semiconductor Manufacturing in the 2nd quarter worth about $29,000. Finally, Fairscale Capital LLC purchased a new position in Taiwan Semiconductor Manufacturing in the 2nd quarter worth about $32,000. Institutional investors own 16.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Trading Up 1.3 %

NYSE TSM opened at $192.99 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.21 and a current ratio of 2.57. The company has a market capitalization of $1.00 trillion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 0.94 and a beta of 1.14. The company’s 50-day simple moving average is $180.45 and its two-hundred day simple moving average is $167.88. Taiwan Semiconductor Manufacturing Company Limited has a one year low of $89.46 and a one year high of $212.60.

Taiwan Semiconductor Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.4871 per share. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, December 12th. This represents a $1.95 dividend on an annualized basis and a yield of 1.01%. Taiwan Semiconductor Manufacturing’s dividend payout ratio (DPR) is 31.09%.

Analyst Ratings Changes

Several research firms recently commented on TSM. Barclays raised their price target on shares of Taiwan Semiconductor Manufacturing from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, October 17th. TD Cowen raised their price target on shares of Taiwan Semiconductor Manufacturing from $130.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. StockNews.com downgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 18th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.