State of Michigan Retirement System 13F: Cuts TSM Stake by $13M

The State of Michigan Retirement System cut its position in Taiwan Semiconductor Manufacturing Company Limited (TSM) by 28,500 shares, now holding a total of 89,100 shares.

TSM Taiwan Semiconductor Manufacturing Company Limited

$437.58 ▲ +37.99% year to date

1M 3M YTD

Daily close · Oct 27, 2026

Where TSM Fits in State of Michigan Retirement System's Portfolio

This position makes up 0.37% of the fund's total 13F portfolio, ranking it 33rd among its holdings. The reduction represents a 24.2% decrease in shares. The fund's reported value for TSMC at the time of filing was approximately $11.02 billion.

Other Institutional Activity in TSM

In addition to the State of Michigan Retirement System, Asset Management One reduced its stake by 16,158 shares, now holding 135,896 shares valued at about $61.99 million. Meanwhile, Penobscot Investment Management Company increased its position by 1,324 shares, bringing its total to 11,742 shares worth approximately $5.36 million.

Taiwan Semiconductor Manufacturing Company Limited Stock Up 4.4%

TSMC shares recently traded around $436.88, which is about equal to the closing price of $437.58 on October 27, 2026. The stock is currently above its 50-day moving average of $434.08 and its 200-day moving average of $398.16. However, it is about 10.4% below its 52-week high of $487.47.

Recent Earnings

For the trailing twelve months, TSMC reported a revenue of approximately $4.94 trillion and an earnings per share of $15.43. The next earnings report is scheduled for January 14, 2027.

Insider Buying and Selling at Taiwan Semiconductor Manufacturing Company Limited

Bor-Zen Tien, an officer at TSMC, has made several small purchases of shares this year, acquiring 20 shares on April 28 for $7,760 and 17 shares on May 20 for $6,718. He also bought 10 shares on July 20 at an average price of $405, totaling $4,050, and 15 shares on July 28 for $5,850.

Analysts Set New Price Targets

On October 16, 2026, Barclays maintained its Overweight rating on TSMC with a price target of $670. Needham also maintained a Buy rating with a target of $560 on October 15. Overall, analysts have a consensus recommendation of "strong buy" with a mean price target of $584.39 from 20 analysts.

About TSMC

Taiwan Semiconductor Manufacturing Company Limited, based in Hsinchu City, Taiwan, manufactures and sells integrated circuits and other semiconductor devices. It serves a global market, providing various wafer fabrication processes for different types of semiconductor technologies.

Bottom Line

Investors will be watching for TSMC's upcoming earnings report in January and any further changes in institutional holdings. The fund's recent cut in TSM shares reflects a strategic adjustment as the stock trades near its 50-day and 200-day moving averages.