These 5 Semiconductor Stocks Are Popular On Reddit

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

Number of Hedge Fund Holders: 81

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the world’s largest contract semiconductor manufacturer. The company takes orders from other firms such as Apple, Inc. (NASDAQ:AAPL) and builds their chips with its latest technologies. The firm is headquartered in Hsinchu, Taiwan.

The Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) expects to grow its revenues by more than 30% this year despite a downturn in the semiconductor industry. It also commands the highest market share for a contract chip maker, as data for this year’s first quarter revealed that TSMC had controlled 54.9% of the market, as it gained 1.6% in market share.

Susquehanna lowered Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s share price target to $88 from $90 in July 2022, as it worried about the impact of a highly expected chip inventory correction. Insider Monkey scanned 912 hedge fund holdings for this year’s March quarter to find out that 81 had bought the company’s shares.

Ken Fisher’s Fisher Asset Management is Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s largest investor through a $2.7 billion stake that comes via 26 million shares.

In a fresh Q2 2022 investor letter, Wedgewood Partners mentioned Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) and stated:

“Taiwan Semiconductor detracted from performance despite a business performance that saw revenue accelerate to over +30% growth. The Company is one of the few fabs in the world that is capable of manufacturing leading-edge integrated circuits (IC). The Company’s leading-edge capacity is being absorbed by high-performance computing applications, particularly by Apple, which has become an integrated circuit 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.”