Taiwan Semiconductor jumps, as Berkshire Buys millions of Stocks

Nov 15, 2022 thejournalbiz

The Oracle of Omaha bought just over 60 million of TSMC’s Shares at an average price of around $68.56, according to SEC filings!

Shares of several companies are outperforming the broader stock market after Warren Buffett’s Berkshire Hathaway disclosed new or expanded positions in them in a 13F filing late Monday.

Tweet on Warren’s move on TSMC stocks

Shares of several companies are outperforming the broader stock market afterHathaway disclosed new positions in them in a 13F filing late Monday.
Taiwan Semiconductor Manufacturing, jumped nearly 13%. its biggest increase since July 2020, according to Dow Jones Market Data.#TSMC pic.twitter.com/kQ8wU6kqnb

— The_Journalbiz (@the_journalbiz) November 15, 2022

Factset:Chart on TSMC stock jumps upon the news

Taiwan Semiconductor Manufacturing, a new Berkshire investment, jumped nearly 13%. It was on pace for its biggest percentage increase since July 2020, according to Dow Jones Market Data.

Warren Buffet’s company bought about 60 million shares of Taiwan Semiconductor for about $4.1 billion in the third quarter, according to its latest 13F filing. Taiwan Semiconductor is the world’s largest contract manufacturer of chips.

Berkshire spent $9 billion buying stocks in the recent quarter. Berkshire also purchased shares of American building materials manufacturer Louisiana-Pacific Corp. and Jefferies Financial Group Inc. It also added to its existing stakes in Paramount Global, Celanese Corp. and RH, formerly known as Restoration Hardware.

TSMC Shares Jump 7% after Berkshire Hathaway Reveals Stake

TSMC closed nearly 8% higher Tuesday on the Taiwan Stock Exchange, where the company’s primary listing is, setting up a potential rally during U.S. trading hours.

TSMC’s Taiwan shares are down around 22% this year. The chip maker has a market capitalization of around $400 billion, according to FactSet.