Taiwan Semiconductor Mfg. Co. Ltd. TSM shares are trading higher by 6.13% to $77.26 during Monday's after-hours session after Berkshire Hathaway and Tiger Global took stakes in the company.
Per Reuters, Berkshire Hathaway has taken a new position of roughly 60.1 million ADSs in TSMC. According to data from Benzinga Pro, this position amounts to roughly a 1.16% stake in the company's ADS share float of 5.19 billion.
The Berkshire filing is relevant for positions as of the quarter ended September 30.
For the unitiated, TSMC is a long-time supplier Apple Inc AAPL, a favorite investment of Buffett's Berkshire.
Tom Russo, a partner at Gardner, Russo & Quinn in Lancaster, Pennsylvania, told Reuters: "I suspect Berkshire has a belief that the world cannot do without the products manufactured by Taiwan Semi."
"Only a small number of companies that can amass the capital to deliver semiconductors, which are increasingly central to people's lives," he added.
TSMC has a 52-week high of $145.00 and a 52-week low of $59.43.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
