In this article, we outline the 5 best falling stocks to buy right now. If you want to find more stocks and learn the rationale for this list, head on to 10 Best Falling Stocks to Buy Right Now.
5. 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 chip manufacturer. The company manufactures chips for major technology firms and its manufacturing technologies are among the most advanced in the world. The company is currently scaling up the production of its 3nm manufacturing technology. It is based in Hsinchu, Taiwan.
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) raked in $17 billion in revenue and $1.4 in non-GAAP EPS during its fiscal first quarter, beating analyst estimates for both metrics. Susquehanna kept a $100 share price target on the company in June 2022, as it shared its belief that the firm was on track to meet its Q2 guidance.
Insider Monkey took a look at 912 hedge fund portfolios following 2022’s first quarter, which revealed that 81 held a stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM). Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s largest investor is Ken Fisher’s Fisher Asset Management. The firm has a $2.7 billion stake through owning 26 million shares.
4. Citigroup Inc. (NYSE:C)
Number of Hedge Fund Holders: 88
Citigroup Inc. (NYSE:C) is a global financial services holding company. It offers its services to both retail and institutional customers. These services include accounts, cards, brokerage, trade financing, and advisory services. Citigroup Inc. (NYSE:C) is headquartered in New York.
After it participated in Morgan Stanley’s financial conference in June 2022, Citigroup Inc. (NYSE:C)’s shares appreciated by as much as 4.2% with the bank highlighting the good performance in its equities division. It also raised its lending rate to 4.75% from an earlier 4% in June 2022.
By the end of its fiscal Q1, Citigroup Inc. (NYSE:C) had earned $19 billion in revenue and $2.02 in GAAP EPS for the quarter, a strong set of results that saw it beat analyst estimates for both. 88 hedge funds tracked by Insider Monkey were invested in the company. Warren Buffett’s Berkshire Hathaway is Citigroup Inc. (NYSE:C)’s largest investor. It owns 55 million shares that are worth $2.9 billion.
3. Bank of America Corporation (NYSE:BAC)
Number of Hedge Fund Holders: 99
Bank of America Corporation (NYSE:BAC) is a banking and financial services provider in America. It provides a wide variety of services such as accounts, deposit certificates, investment accounts, credit and debit cards, and wealth management. It is also one of the oldest banks in the world after being set up in 1784. Bank of America Corporation (NYSE:BAC) is headquartered in Charlotte, North Carolina.
Bank of America Corporation (NYSE:BAC) posted $23 billion in revenue and $0.80 in GAAP EPS during its fiscal first quarter, for a strong set of results that ended up beating analyst estimates for both. Its chief financial officer (CFO) was also optimistic about the economy in June 2022, as he highlighted at a conference that a recession might not take place after all.
RBC Capital reduced its Bank of America Corporation (NYSE:BAC) price target to $45 from $51 in June 2022, highlighting that while the company’s interest income outlook remains positive, the firm’s decision also reflected revised multiples. Insider Monkey’s database of 912 hedge funds that filed 13Fs for the first quarter found that 99 were invested in the bank. Bank of America Corporation (NYSE:BAC)’s largest investor is Warren Buffett’s Berkshire Hathaway, which owns 1 billion shares that are worth $41 billion.
2. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 102
NVIDIA Corporation (NASDAQ:NVDA) is one of the largest semiconductor companies in the world when it comes to market capitalization. The firm is widely credited with having pioneered the graphics processing unit (GPU), and has its toes in a host of industries such as gaming, consoles, and data centers. It is headquartered in Santa Clara, California.
Wells Fargo kept a $250 price target for NVIDIA Corporation (NASDAQ:NVDA)’s shares in May 2022 as it shared that the Los Alamos National Laboratory’s decision to use the company’s central processing units (CPUs) for its supercomputers was a ‘big win’. NVIDIA Corporation (NASDAQ:NVDA) reported that it earned $8 billion in revenue and $1.36 in non-GAAP EPS, comfortably beating analyst estimates for both metrics.
102 hedge funds tracked by Insider Monkey’s database held a stake in the company. Ken Fisher’s Fisher Asset Management is NVIDIA Corporation (NASDAQ:NVDA)’s largest investor, owning 7.3 million shares that are worth $1.9 billion.
1. Berkshire Hathaway Inc. (NYSE:BRK-B)
Number of Hedge Fund Holders: 104
Berkshire Hathaway Inc. (NYSE:BRK-B) is perhaps one of the most renowned holding companies in the world. It is associated with the most successful investor in American history, Mr. Warren Buffett, who is also known as the ‘Oracle of Omaha’. The company has its paws in the energy, railroad, aerospace, and confectionary businesses, in addition to a host of other industries. It is headquartered in Omaha, Nebraska.
Berkshire Hathaway Inc. (NYSE:BRK-B)’s fiscal first quarter earnings provided an accurate snapshot of the economy. The company’s operating earnings in insurance underwriting and investment decreased, while those for railroads, utilities, and manufacturing services and retailing increased. Berkshire Hathaway Inc. (NYSE:BRK-B) is currently on a spending spree targeting the insurance and energy sectors.
As part of our first quarter of 2022 survey that analyzed the holdings of 912 hedge funds, 104 were invested in Berkshire Hathaway Inc. (NYSE:BRK-B). Berkshire Hathaway Inc. (NYSE:BRK-B)’s largest shareholder is Michael Larson’s Bill & Melinda Gates Foundation Trust, which owns 28 million shares that are worth $10 billion.
Disclosure: None. You can also take a look at 11 Best Value Stocks To Buy According To Warren Buffett and 10 Best Growth Stocks for the Next 10 Years.
