Greenwich Wealth Management Increases Stake in Taiwan Semiconductor

Greenwich Wealth Management LLC has expanded its holdings in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM) by 5.5% during the second quarter of 2023. This increase was revealed in the firm’s latest Form 13F filing with the U.S. Securities and Exchange Commission. Greenwich now owns 7,362 shares of the semiconductor giant, valued at approximately $1.67 million following the acquisition of an additional 386 shares during this period.

Several other institutional investors have also adjusted their positions in TSM. Mid American Wealth Advisory Group Inc. entered the market with a new stake worth about $33,000 in the second quarter. First Command Advisory Services Inc. significantly increased its holdings by 174.1%, bringing its total to 159 shares valued at $36,000 after acquiring 101 shares recently. Other firms, including 1248 Management LLC and Vision Financial Markets LLC, also purchased new positions, further demonstrating growing interest from institutional investors. Currently, institutional investors and hedge funds own 16.51% of Taiwan Semiconductor’s stock.

Wall Street Analysts Provide Mixed Ratings

Recent assessments from various brokerages indicate differing perspectives on Taiwan Semiconductor’s performance. Wall Street Zen downgraded the stock from a “buy” to a “hold” rating. In contrast, Itau BBA Securities initiated coverage with an “outperform” rating. Weiss Ratings reaffirmed a “buy (b-)” rating, while Citigroup maintained its “buy” stance. Notably, Susquehanna raised its target price for TSM from $300.00 to $400.00 and assigned a “positive” rating. Analysts’ consensus places the average rating at “buy” with a target price of $371.67.

Strong Financial Performance Reported

On October 16, 2023, Taiwan Semiconductor announced its quarterly earnings, revealing earnings per share of $2.92. This figure exceeded analyst expectations of $2.59 by $0.33. The company reported a net margin of 43.72% and a return on equity of 36.06%. Revenue for the quarter reached $32.36 billion, significantly surpassing the consensus estimate of $29.51 billion. This performance marks a 40.1% increase in revenue compared to the same quarter last year.

The company’s stock opened at $292.00 recently, reflecting its strong market position, with a market capitalization of $1.51 trillion. Taiwan Semiconductor’s financial health is illustrated by a current ratio of 2.37, a quick ratio of 2.15, and a low debt-to-equity ratio of 0.20. Over the past year, the stock has fluctuated between a low of $134.25 and a high of $311.37.

In an additional update, the company announced an increase in its quarterly dividend to $0.9678 per share, set to be paid on April 9, 2024. Shareholders of record on March 17, 2024, will benefit from this increase, up from the previous quarterly dividend of $0.83. This adjustment reflects a commitment to returning value to shareholders, with an annualized dividend yield of 1.3%.

Taiwan Semiconductor Manufacturing Company, headquartered in Taiwan, is a leading provider of semiconductor devices and integrated circuits. Its extensive range of fabrication processes serves clients globally, including markets in Asia, Europe, and North America.

For further insights into institutional ownership, visit HoldingsChannel.com for the latest 13F filings and insider trades related to Taiwan Semiconductor Manufacturing Company.