Billionaire Ken Fisher’s 5 Stock Picks with Huge Upside Potential

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

Ken Fisher’s Stake Value: $2.66 billion

Average analyst price target: $112.00

Average analyst price target upside: 13.65%

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the world’s most valuable semiconductor companies. The company is headquartered in Taiwan and serves globally.

On November 14, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s Board of Directors approved a quarterly NT$3.50 (NT$1 = $0.032) per share cash dividend. The dividend will be payable by April 11, 2024, to the shareholders of record on March 18, 2024.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock was owned by 107 hedge funds in the third quarter of 2023. Fisher Asset Management was the most prominent investor in the company after increasing its holdings by 4% to 30.637 million shares worth $2.66 billion.

Wedgewood Partners talked about Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its third quarter 2023 investor letter. Here is what it said:

“Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) detracted from performance, as revenues declined 10% from a year ago. The Company is lapping revenue growth of over +40% (compared to 2022) during every quarter of 2023, so it is more instructive to look at the health of the business through the lens of a multi-year timeframe. Most of the Company’s customers have seen near-term weakness in demand due to pandemic normalization. However, we think the longer-term trend of more silicon per device is still very much intact, and the Company is well-positioned to serve this, given its commanding market share in leading edge capacity. The Company’s aggressive investment in leading-edge equipment combined with tight development with fabless IC designers, plus the embrace of open development libraries, should continue to foster a superior competitive position and attractive long-term growth.”