Meridian Wealth Partners Boosts Stake in Taiwan Semiconductor Manufacturing

Meridian Wealth Partners LLC has expanded its investment in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM) during the second quarter of 2024. According to a recent filing with the U.S. Securities and Exchange Commission (SEC), the firm acquired 1,584 shares of the semiconductor giant, valued at approximately $359,000. This move reflects a growing interest among institutional investors in one of the world’s leading semiconductor manufacturers.

Several other prominent investment firms also adjusted their holdings in Taiwan Semiconductor during the same period. Notably, Goldman Sachs Group Inc. increased its stake by 55.6%, acquiring an additional 6,180,445 shares to reach a total of 17,306,108 shares. This investment is now valued at approximately $2.87 billion. Similarly, Price T Rowe Associates Inc. raised its holdings by 19.1%, now owning 12,350,239 shares valued at around $2.05 billion after acquiring 1,984,835 shares in the last quarter.

Other significant investments include Jennison Associates LLC, which increased its stake by 26.7%, bringing its total to 12,046,792 shares worth about $2.73 billion. WCM Investment Management LLC grew its holdings by 3.3%, now controlling 10,058,659 shares valued at approximately $2.30 billion. Additionally, AllianceBernstein L.P. raised its ownership by 31.5%, now holding 8,864,014 shares valued at $1.47 billion. Collectively, institutional investors and hedge funds now own 16.51% of the company’s stock.

Stock Performance and Financial Metrics

On the trading front, Taiwan Semiconductor’s shares opened at $292.00 on Friday. The company has experienced a volatile year, with a low of $134.25 and a high of $311.37. Its current market capitalization stands at approximately $1.51 trillion, with a price-to-earnings (P/E) ratio of 29.95 and a price-to-earnings-growth (PEG) ratio of 1.02. Additionally, the stock has shown resilience, with a fifty-day moving average of $290.31 and a two-hundred-day moving average of $249.12. The company maintains a debt-to-equity ratio of 0.20, with a quick ratio of 2.15 and a current ratio of 2.37.

In a positive sign for shareholders, Taiwan Semiconductor recently announced an increase in its quarterly dividend. The new dividend of $0.9678 will be paid on April 9, 2024, to investors of record as of March 17, 2024. This represents a significant increase from the previous quarterly dividend of $0.83, resulting in an annualized dividend of $3.87 and a yield of 1.3%. The company’s dividend payout ratio (DPR) is now 26.97%.

Analysts’ Outlook

Analysts have provided a mixed outlook on Taiwan Semiconductor’s stock. Citigroup reaffirmed a “buy” rating on the shares, while Susquehanna raised its price target from $300.00 to $400.00, reflecting a “positive” outlook. Weiss Ratings also reiterated a “buy (B-)” rating, while Barclays increased its price target from $330.00 to $355.00, maintaining an “overweight” rating. In contrast, Wall Street Zen downgraded the stock from a “buy” rating to a “hold” rating.

As it stands, six analysts have rated Taiwan Semiconductor with a “buy” rating. According to MarketBeat.com, the stock holds a consensus rating of “buy” and a consensus target price of $371.67. This sentiment underscores the strong position Taiwan Semiconductor maintains in the global semiconductor market.

Taiwan Semiconductor Manufacturing Company Limited, along with its subsidiaries, is a key player in the manufacturing, packaging, testing, and selling of integrated circuits and other semiconductor devices on a global scale. The company offers an extensive range of wafer fabrication processes, catering to various technological needs across different regions, including Taiwan, China, Europe, and the United States.

Investors looking for detailed information about Taiwan Semiconductor’s holdings and recent activities can refer to HoldingsChannel.com for the latest 13F filings and insider trades.