5 Most Successful Penny Stocks That Made It Big

In this piece, we will take a look at the five most successful penny stocks that made it big. For more stocks, take a look at 10 Most Successful Penny Stocks That Made It Big.

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

Number of Hedge Fund Holders: 72

Share Price Gain To Date: 6,000%

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the world’s largest contract chip manufacturer. The company manufactures semiconductors for firms such as Apple, AMD, NVIDIA, and even Intel. It is headquartered in Hsinchu, Taiwan.

Amidst a slowdown in the personal computing industry, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) beat consensus revenue and earnings per share estimates in its third fiscal quarter by reporting $20 billion and $1.79 in the segments, respectively. The firm is currently ramping up the production of its 3-nanometer semiconductor manufacturing technology, and 72 out of the 895 hedge funds part of Insider Monkey’s Q2 2022 survey had owned its shares.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s shares entered the penny stock category in 1998-1999 when they dropped to as low as $1.03. Since then, they have appreciated by a whopping 6,000%.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s largest investor in our database is Ken Fisher’s Fisher Asset Management which owns 26 million shares that are worth $2.1 billion.

Wedgewood Partners mentioned the company in its Q3 2022 investor letter. Here is what the fund said:

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) detracted from performance despite business performance that saw revenue growth accelerate to over +40% growth (in TWD) and lapped +20% revenue growth from a year ago. The Company is one of the few fabs in the world that is capable of manufacturing leading-edge integrated circuits (IC). TSM’s leading edge capacity is being absorbed by high-performance computing applications, particularly in the case of Apple, which has become an IC 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.”

4. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 72

Share Price Gain To Date: 16,400%

Tesla, Inc. (NASDAQ:TSLA) is one of the largest electric vehicle companies in the world, that is widely credited to have pioneered new energy vehicles after having overcome significant manufacturing and production constraints. The company is headquartered in Austin, Texas, the United States.

Tesla, Inc. (NASDAQ:TSLA) is aggressively targeting the Chinese market, where it faces tough competition from local firms at the top of their game. The firm announced that it was cutting the prices of its vehicles in China in October 2022. Insider Monkey’s second quarter of 2022 survey covering 895 hedge funds outlined that 72 had owned a stake in the company.

While Tesla, Inc. (NASDAQ:TSLA)’s shares started to sell at $10 in 2015, since then a significant number of stock splits have brought down the IPO share price to just $1.28. To date, the shares have grown by 16,400% on the stock market.

Tesla, Inc. (NASDAQ:TSLA)’s largest investor in our database is Catherine D. Wood’s ARK Investment Management which owns 1.4 million shares that are worth $1 billion.

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 84

Share Price Gain To Date: 15,900%

NVIDIA Corporation (NASDAQ:NVDA) is the world’s largest graphics processing unit designer and seller. Its products lead the market and are used in a variety of applications such as gaming, machine learning, and enterprise computing.

NVIDIA Corporation (NASDAQ:NVDA) shares have appreciated by a staggering 15,900% since they started trading on the stock market in January 1999. The IPO share price was $12, and after it is adjusted for stock splits, it now stands at $0.82 per share – among the lowest of the lows for a penny stock. Despite the shares currently trading at $132, Needham believes that they still have a long way to go, even as it reduced the company’s share price target to $155 from $170 in October 2022.

Insider Monkey took a look at 895 hedge fund holdings for this year’s June quarter to discover that 84 had invested in NVIDIA Corporation (NASDAQ:NVDA).

Out of these, Ken Fisher’s Fisher Asset Management is NVIDIA Corporation (NASDAQ:NVDA)’s largest investor. It owns 7.5 million shares that are worth $1.1 billion.

2. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 87

Share Price Gain To Date: 2,900%

Advanced Micro Devices, Inc. (NASDAQ:AMD) is an American company that designs and sells central processing units (CPUs) and graphics processing units (GPUs). The firm is headquartered in Santa Clara, California.

Advanced Micro Devices, Inc. (NASDAQ:AMD) has outperformed investor and media expectations over the past couple of years as it continues to deliver advanced products and take away market share from its larger rival, Intel Corporation (NASDAQ:INTC). Courtesy of these, Advanced Micro Devices, Inc. (NASDAQ:AMD)’s shares have popped by 2,900% since they sunk to $2.06 in October 1990.

HSBC set a $60 share price target for the company in October 2022 as it stated that Advanced Micro Devices, Inc. (NASDAQ:AMD) will continue to grow its market share this year but will be harmed by the slowdown in the personal computing market. 87 out of the 895 hedge funds polled by Insider Monkey for their Q2 2022 holdings had held a stake in the company.

Ken Fisher’s Fisher Asset Management is Advanced Micro Devices, Inc. (NASDAQ:AMD)’s largest investor. It owns 25 million shares that are worth $1.9 billion.

Baron funds mentioned the company in its Q2 2022 investor letter. Here is what the fund said:

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a global fabless semiconductor company focusing on high-performance computing technology, software, and products. AMD designs leading high-performance central and graphics processing units (known as CPUs and GPUs) and integrates them with hardware and software to build differentiated solutions for customers.

AMD has been gaining meaningful share in personal computing and server end markets over the past several years driven by the performance of its processors and technology and strong execution against its technology roadmap, and we believe share gains will continue over the coming years from a combination of AMD’s continued advancements and Intel’s stumbles in developing its leading-edge technology.

1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 252

Share Price Gain To Date: 133,966%

Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest electronic commerce retailer that also operates in the cloud computing, consumer electronics, and satellite internet industries. The firm is headquartered in Seattle, Washington, the United States.

Amazon.com, Inc. (NASDAQ:AMZN) is the company that has made its founder Mr. Jefferey Bezos one of the richest men in the world. The firm’s shares were listed at $18 on the NASDAQ exchange, and since then, they have undergone four stock splits, for a cumulative 27 to 1 split, which brings their IPO price to just $0.075. Since then, the stock has popped by an unbelievable 133,966%!

The growth of its platform has presented Amazon.com, Inc. (NASDAQ:AMZN) with unique problems, and the company is currently undertaking legal action against fake review brokers in Italy. By the end of this year’s second quarter, 252 out of the 895 hedge funds part of Insider Monkey had invested in the company.

Out of these, Ken Fisher’s Fisher Asset Management is Amazon.com, Inc. (NASDAQ:AMZN)’s largest shareholder through a $5.1 billion stake that comes courtesy of 48 million shares.

Disclosure: None. You can also take a look at 12 Best Ethical Stocks To Buy Now and 10 Best Stocks to Buy According to Billionaire Dan Loeb.