Van ECK Associates Corp Has $61.99 Million Holdings in Taiwan Semiconductor Manufacturing Company Ltd. (TSM)

Van ECK Associates Corp decreased its holdings in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) by 33.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,773,064 shares of the semiconductor company’s stock after selling 889,058 shares during the quarter. Van ECK Associates Corp’s holdings in Taiwan Semiconductor Manufacturing were worth $61,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of TSM. Bruderman Asset Management LLC bought a new stake in Taiwan Semiconductor Manufacturing during the 2nd quarter valued at $115,000. Pictet & Cie Europe SA bought a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter valued at $134,000. Pictet North America Advisors SA bought a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter valued at $166,000. U S Global Investors Inc bought a new stake in Taiwan Semiconductor Manufacturing during the 1st quarter valued at $187,000. Finally, Sit Investment Associates Inc. raised its holdings in Taiwan Semiconductor Manufacturing by 107.7% during the 2nd quarter. Sit Investment Associates Inc. now owns 5,400 shares of the semiconductor company’s stock valued at $189,000 after acquiring an additional 2,800 shares during the period. 19.38% of the stock is currently owned by institutional investors and hedge funds.

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TSM has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday, June 15th. HSBC Holdings plc cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, BidaskClub cut shares of Taiwan Semiconductor Manufacturing from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Taiwan Semiconductor Manufacturing currently has an average rating of “Hold” and a consensus price target of $31.67.

Shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) traded down 0.81% during midday trading on Wednesday, reaching $37.99. 2,421,671 shares of the company’s stock were exchanged. Taiwan Semiconductor Manufacturing Company Ltd. has a one year low of $28.34 and a one year high of $38.43. The stock has a market cap of $197.02 billion, a price-to-earnings ratio of 17.07 and a beta of 0.76. The firm has a 50 day moving average of $36.77 and a 200-day moving average of $34.95.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, July 13th. The semiconductor company reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.08). The firm had revenue of $213.86 billion for the quarter, compared to the consensus estimate of $214.25 billion. Taiwan Semiconductor Manufacturing had a net margin of 36.11% and a return on equity of 25.61%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.80 earnings per share. On average, equities research analysts anticipate that Taiwan Semiconductor Manufacturing Company Ltd. will post $2.15 earnings per share for the current year.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Company Limited (TSMC) is a semiconductor foundry. The Company is engaged in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices and the manufacturing of masks. It operates through foundry segment.

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Institutional Ownership by Quarter for Taiwan Semiconductor Manufacturing (NYSE:TSM)

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