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.
Image and article originally from www.benzinga.com. Read the original article here.