5 Most Successful Penny Stocks That Made It Big

In this piece, we will take a look at the five most successful penny stocks that made it big. For more stocks, take a look at 10 Most Successful Penny Stocks That Made It Big.

5. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Number of Hedge Fund Holders: 72

Share Price Gain To Date: 6,000%

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the world’s largest contract chip manufacturer. The company manufactures semiconductors for firms such as Apple, AMD, NVIDIA, and even Intel. It is headquartered in Hsinchu, Taiwan.

Amidst a slowdown in the personal computing industry, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) beat consensus revenue and earnings per share estimates in its third fiscal quarter by reporting $20 billion and $1.79 in the segments, respectively. The firm is currently ramping up the production of its 3-nanometer semiconductor manufacturing technology, and 72 out of the 895 hedge funds part of Insider Monkey’s Q2 2022 survey had owned its shares.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s shares entered the penny stock category in 1998-1999 when they dropped to as low as $1.03. Since then, they have appreciated by a whopping 6,000%.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s largest investor in our database is Ken Fisher’s Fisher Asset Management which owns 26 million shares that are worth $2.1 billion.

Wedgewood Partners mentioned the company in its Q3 2022 investor letter. Here is what the fund said:

“Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) detracted from performance despite business performance that saw revenue growth accelerate to over +40% growth (in TWD) and lapped +20% revenue growth from a year ago. The Company is one of the few fabs in the world that is capable of manufacturing leading-edge integrated circuits (IC). TSM’s leading edge capacity is being absorbed by high-performance computing applications, particularly in the case of Apple, which has become an IC powerhouse over the past decade. The Company’s aggressive investment in leading-edge equipment, tight development with fabless IC designers and embrace of open development libraries, should continue to foster a superior competitive position and attractive long-term growth.”