5 Semiconductor Stocks To Watch During A Potential Tech Pullback

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

Number of Hedge Fund Holders: 102

Upside Potential: 20.48%

In total, 102 hedge funds were long Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in the first quarter, with a total stake value of $8.9 billion.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) manufactures and sells integrated circuits and semiconductor devices in Taiwan, China, Europe, the Middle East, Africa, Japan, the US, and internationally.

On June 16, Mehdi Hosseini at Susquehanna raised the firm’s price target on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) from $126 to $128. The analyst also holds a Positive rating on the stock.

Baron Funds made the following comment about Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its first-quarter 2023 investor letter:

“Semiconductor giant Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) contributed in the first quarter due to easing geopolitical concerns and expectations for end-demand recovery later in 2023. We retain conviction that Taiwan Semi’s technological leadership; pricing power; and exposure to secular growth markets, including high-performance computing, automotive, 5G, and IoT; will allow the company to sustain strong earnings growth over the next several years.”