5 Companies that Recently Raised Guidance

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

Number of Hedge Fund Holders: 81  

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) makes and sells integrated circuits and semiconductors. The company posted earnings for the second quarter of 2022 on July 14, reporting earnings per share of $1.55, beating estimates by $0.05. The revenue over the period was $18 billion, up 36% compared to the revenue over the same period last year and beating estimates by $580 million. The firm guided third quarter revenue to up to $20.6 billion against consensus estimates of $18.4 billion. 

On June 21, Loop Capital analyst Charles ParkTaiwan initiated coverage of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) stock with a Buy rating and a price target of NT$600, noting that the firm was an industry leader in foundry. 

At the end of the first quarter of 2022, 81 hedge funds in the database of Insider Monkey held stakes worth $10.1 billion in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), up from 72 in the preceding quarter worth $10.9 billion. 

In its Q1 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was one of them. Here is what the fund said:

“Semiconductor giant Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) detracted in the first quarter due to rising geopolitical tensions, macroeconomic uncertainties, and concerns over softening demand for consumer electronics. We retain conviction that Taiwan Semi’s technological leadership, pricing power, and exposure to secular growth markets, including high-performance computing, automotive, and IoT, will allow the company to deliver above its 15% to 20% revenue growth target over the next several years.”

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