5 Stocks in the Limelight After Earnings Reports

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

Number of Hedge Fund Holders: 64

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) were trading higher in the pre-market trading session on Thursday, 14 October 2021, following its strong profit and sales for the third quarter.

The chip maker’s earnings for the third quarter rose 13.80 percent on a year-over-year basis to $1.08 per share, ahead of the consensus forecast of $1.04 per share. Revenue for the quarter jumped 22.6 percent to $14.88 billion, just above analysts’ average estimate of $14.83 billion.

Gross margin came in at 51.3 percent, while operating margin stood at 41.2 percent in the quarter. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) also issued its sales outlook for the fourth quarter. It expects revenue in the range of $15.4 billion – $15.7 billion.

Discussing the results, CFO Wendell Huang said:

“Our third quarter business was mainly supported by strong demand across all four growth platforms, which are smartphone, HPC, IoT and Automotive-related applications. Moving into fourth quarter 2021, we expect our business to be supported by strong demand for our industry-leading 5nm technology.”