5 Best Semiconductor Stocks According to Billionaires

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

Number of Billionaire Investors: 20

Dollar Value of Billionaire Holdings: $5.316 billion

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) provides semiconductor foundry services and provided services to 532 customers and developed 12,698 products in 2022.

On November 28, Bernstein raised the price target on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s stock to $125 from $113 and maintained an Outperform rating. It also called the stock its Best Idea for 2024. 

According to Insider Monkey’s database, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the top semiconductor stocks per billionaires as the company shares were owned by 20 billionaires in the third quarter at a combined value of $5.316 billion.

Wedgewood Partners commented on 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.”