Cardinal Capital Management Has Raised Its Taiwan Semiconductor (TSM) Stake by $375,180; As Phillips 66 (PSX) Stock Declined, Navellier & Associates Has Cut Position by $318,500

February 19, 2018 - By wolcottdaily

Louis Navellier decreased its stake in Phillips 66 (PSX) by 23.23% based on its latest 2017Q3 regulatory filing with the SEC. Navellier & Associates Inc sold 3,500 shares as the company’s stock declined 0.52% while stock markets rallied. The hedge fund run by Louis Navellier held 11,565 shares of the integrated oil company at the end of 2017Q3, valued at $1.06 million, down from 15,065 at the end of the previous reported quarter. Navellier & Associates Inc who had been investing in Phillips 66 for a number of months, seems to be less bullish one the $46.18B market cap company. The stock decreased 0.09% or $0.08 during the last trading session, reaching $91.99. About 2.22 million shares traded or 12.78% up from the average. Phillips 66 (NYSE:PSX) has risen 0.77% since February 19, 2017 and is uptrending. It has underperformed by 15.93% the S&P500.

Cardinal Capital Management Inc increased its stake in Taiwan Semiconductor (TSM) by 6.3% based on its latest 2017Q3 regulatory filing with the SEC. Cardinal Capital Management Inc bought 10,140 shares as the company’s stock rose 8.84% with the market. The institutional investor held 170,985 shares of the semiconductors company at the end of 2017Q3, valued at $6.42M, up from 160,845 at the end of the previous reported quarter. Cardinal Capital Management Inc who had been investing in Taiwan Semiconductor for a number of months, seems to be bullish on the $204.64 billion market cap company. The stock decreased 0.09% or $0.04 during the last trading session, reaching $43.48. About 4.79M shares traded. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has risen 51.40% since February 19, 2017 and is uptrending. It has outperformed by 34.70% the S&P500.

Cardinal Capital Management Inc, which manages about $1.84 billion and $1.08 billion US Long portfolio, decreased its stake in Us Bancorp (NYSE:USB) by 6,475 shares to 288,082 shares, valued at $15.44 million in 2017Q3, according to the filing. It also reduced its holding in Becton Dickinson And Co. (NYSE:BDX) by 4,730 shares in the quarter, leaving it with 77,207 shares, and cut its stake in Microsoft Corp. (NASDAQ:MSFT).

Among 8 analysts covering Taiwan Semiconductor Manufacturing (NYSE:TSM), 4 have Buy rating, 0 Sell and 4 Hold. Therefore 50% are positive. Taiwan Semiconductor Manufacturing had 15 analyst reports since August 24, 2015 according to SRatingsIntel. The stock of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has “Outperform” rating given on Friday, December 11 by Credit Suisse. As per Friday, October 14, the company rating was upgraded by Pacific Crest. The rating was upgraded by Susquehanna on Tuesday, October 4 to “Neutral”. As per Tuesday, January 16, the company rating was upgraded by HSBC. HSBC downgraded the stock to “Hold” rating in Thursday, October 13 report. The stock has “Equal-Weight” rating by Morgan Stanley on Monday, November 27. J.P. Morgan upgraded the shares of TSM in report on Tuesday, October 10 to “Buy” rating. The company was maintained on Thursday, January 18 by Susquehanna. The firm earned “Neutral” rating on Tuesday, June 28 by Goldman Sachs. The stock of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has “Hold” rating given on Wednesday, September 6 by KeyBanc Capital Markets.

Navellier & Associates Inc, which manages about $2.37 billion and $514.86M US Long portfolio, upped its stake in Novanta Inc by 8,066 shares to 19,196 shares, valued at $837,000 in 2017Q3, according to the filing. It also increased its holding in Ferrari Nv by 84,676 shares in the quarter, for a total of 95,421 shares, and has risen its stake in Rexford Industrial Realty Inc (NYSE:REXR).

Since September 19, 2017, it had 0 insider purchases, and 2 insider sales for $373,204 activity.

Among 18 analysts covering Phillips 66 (NYSE:PSX), 8 have Buy rating, 2 Sell and 8 Hold. Therefore 44% are positive. Phillips 66 had 71 analyst reports since August 4, 2015 according to SRatingsIntel. The stock of Phillips 66 (NYSE:PSX) earned “Buy” rating by Piper Jaffray on Sunday, January 21. The company was maintained on Thursday, June 1 by Jefferies. On Friday, April 21 the stock rating was maintained by RBC Capital Markets with “Hold”. The company was maintained on Thursday, July 6 by RBC Capital Markets. RBC Capital Markets maintained the shares of PSX in report on Thursday, September 14 with “Hold” rating. Jefferies maintained the shares of PSX in report on Monday, September 4 with “Hold” rating. The stock has “Neutral” rating by Credit Suisse on Monday, November 2. Cowen & Co maintained it with “Buy” rating and $9500 target in Tuesday, August 8 report. Citigroup maintained Phillips 66 (NYSE:PSX) rating on Tuesday, February 6. Citigroup has “Neutral” rating and $103 target. The rating was upgraded by Goldman Sachs on Tuesday, October 3 to “Buy”.

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