Billionaire Philippe Laffont is Selling These 5 Stocks

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

Number of Hedge Fund Holders: 81

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) manufactures and sells integrated circuits and semiconductor devices in Taiwan, China, Europe, the Middle East, Africa, Japan, and the United States. Coatue Management added Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) to its portfolio in Q4 2021 by purchasing 858,277 shares worth $103.26 million. The hedge fund discarded the stock in the next quarter. 

Susquehanna analyst Mehdi Hosseini on July 14 lowered the firm’s price target on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) to $88 from $90 and kept a Neutral rating on the shares. The analyst observed the company’s robust revenues in 2022 actually make the 2023 estimates more challenging. He told investors that it is encouraging to hear Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) announcing a wide inventory correction, but said the 1H23 inventory correction will be more difficult than anticipated.

Among the hedge funds tracked by Insider Monkey, 81 funds were long Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) at the end of March, up from 72 funds in the earlier quarter. Fisher Asset Management is the largest stakeholder of the company, with more than 26 million shares valued at $2.73 billion. 

Here is what Baron New Asia Fund has to say about Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its Q1 2022 investor letter:

“Semiconductor giant Taiwan Semiconductor Manufacturing Company Ltd. 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.”