Sloane Robinson Investment Management Was Buying Up Shares Of These Companies Last Quarter

Moving on to Taiwan Semiconductor Mfg. Co. Ltd. (ADR)(NYSE:TSM), Sloane Robinson Investment Management increased its stake in the company by a whopping 658% to 486,500 shares. As of June 30, this stake was worth almost $11.05 million. Taiwan Semiconductor Mfg. Co. Ltd. (ADR)(NYSE:TSM) is a Taiwan-based behemoth that manufactures and supplies integrated circuits and other semiconductor devices and is one of Apple Inc. (NASDAQ:AAPL)’s largest suppliers. The company recently announced that it will commence mass production of A9 chips with its 16nm FinFET process technology in the fourth quarter of 2015. On August 11 , the company reported that it would be acquiring a stake worth up to $126 million in Visera, OVT Taiwan. Ken Fisher‘s Fisher Asset Management, which was the largest shareholder of Taiwan Semiconductor Mfg. Co. Ltd. (ADR)(NYSE:TSM) among the hedge funds we cover at the end of the first quarter, increased its stake in the company by another 7% to over 26.61 million shares during the second quarter.

Sloane Robinson Investment Management initiated a stake in Harman International Industries Inc./DE/(NYSE:HAR) by purchasing 71,200 shares of the company during the April-June period. This stake was worth almost $8.47 million as of June 30. Harman International Industries Inc./DE/(NYSE:HAR) is an acoustics company which manufactures and markets audio products for the automotive industry. On August 4 the company declared its fiscal 2015 fourth quarter and full-year results for the period ending June 30. Operational EPS for the quarter came in at $1.37, up by 10% year-over-year, while revenue for the quarter came in at $1.7 billion, up by 16% from the same quarter last year. The company faced significant headwind s from the rise in the dollar during the quarter, evidenced by the fact that if foreign currency impact is excluded, its revenue was up by 26% year-over-year for the quarter. In a research note published on August 7, analysts at Robert W. Baird reduced their price target on the stock to $147 from $172 and reiterated their ‘Outperform’ rating on the stock. Analysts at Barclays also upped their price target on the stock to $140 from $139 on August 11, while maintaining their rating of ‘Overweight’. Donald Chiboucis‘ Columbus Circle Investors reduced its stake in the company by 234,679 shares to 456,378 shares during the second quarter.

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