5 Trending Stocks on Tuesday

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

Number of Hedge Fund Holders: 72

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) jumped nearly 13 percent in pre-market trading Tuesday. The surge followed the news that Berkshire Hathaway has acquired about $4 billion worth of stock in TSM.

Berkshire Hathaway, run by billionaire investor Warren Buffett, made the purchases during the third quarter, according to a recent filing. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares have lost about 40 percent so far in 2022. However, the latest disclosure by Berkshire has sent the stock to a nearly two-month high.

Separately, investment management firm Baron Funds also briefly talked about Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its third-quarter 2022 investor letter. Here’s what the firm said:

“Semiconductor giant Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) detracted from performance due to the global macroeconomic slowdown and softening demand for consumer electronics. We retain conviction that Taiwan Semi’s technological leadership, pricing power, and exposure to secular growth markets, including high-performance computing, automotive, and IoT, will allow the company to deliver strong revenue growth over the next several years.”