# Taiwan Semiconductor Manufacturing Company Limited (TSM)

> Source: Nexqual · https://nexqual.com/TSM · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Taiwan Semiconductor Manufacturing Company Limited (TSM), nexqual.com/TSM" · informational, not investment advice.

**Price:** USD 412.35 (-4.52% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 431.89 · day 410.22–421.91 · 52w 266.82–487.47 · market cap $2.14T · NYQ

## Key facts
- 24 of 80 tracked superinvestors hold TSM (13F, Q2 2026): 1 new, 6 added, 15 reduced, 2 unchanged.
- Analysts: Buy (mean 1.76 on a 1–5 scale) (21 analysts), mean target USD 584.39 (range 440–1,000).
- Total return with dividends: 1Y +43.3% vs S&P 500 +14.9%; 5Y +291.1% vs S&P 500 +80.3%.
- Next earnings: 2027-01-14, EPS estimate USD 5.16, revenue estimate $1.71T.

## Superinvestors (SEC 13F-HR, Q2 2026)
24 of 80 tracked investors hold TSM. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| David Tepper | Appaloosa Management | 10.55% | $788M | Added +24.3% |
| David Rolfe | Wedgewood Partners | 10.40% | $50.4M | Reduced -18.4% |
| Chase Coleman | Tiger Global Management | 9.72% | $2.33B | Reduced -12.3% |
| Ruane Cunniff | Ruane Cunniff LP | 8.71% | $560M | Reduced -3.0% |
| William Von Mueffling | Cantillon Capital Management | 8.24% | $54.8M | Reduced -95.4% |
| Daniel Loeb | Third Point | 4.73% | $220M | Added +67.3% |
| Viking Global | Viking Global Investors | 4.31% | $1.51B | Reduced -29.1% |
| Terry Smith | Fundsmith | 4.02% | $548M | New position |
| Lee Ainslie | Maverick Capital | 3.07% | $340M | Reduced -42.5% |
| First Eagle Investment | First Eagle Investment Management | 2.99% | $1.79B | Reduced -4.0% |
| Sarah Ketterer | Causeway Capital Management | 2.75% | $254M | Added +4.6% |
| Mairs & Power | Mairs & Power Funds | 2.09% | $227M | Reduced -2.1% |
| Polen Capital | Polen Capital Management | 2.06% | $239M | Added +186.9% |
| Hillman Capital | Hillman Capital Management | 1.94% | $2.7M | Reduced -29.6% |
| Prem Watsa | Fairfax Financial Holdings | 1.69% | $44.7M | Unchanged |
| Torray Funds |  | 1.69% | $12.6M | Reduced -3.0% |
| Wallace Weitz | Weitz Investment Management | 0.66% | $9.6M | Unchanged |
| Dodge & Cox Funds | Dodge & Cox | 0.36% | $688M | Added +1236.5% |
| Stephen Mandel | Lone Pine Capital | 0.30% | $48.4M | Reduced -92.7% |
| Jensen Investment Management |  | 0.18% | $7.6M | Reduced -3.3% |
| John Rogers | Ariel Investments | 0.08% | $8.5M | Added +10.8% |
| Francois Rochon | Giverny Capital | 0.06% | $1.7M | Reduced -55.0% |
| Richard Pzena | Pzena Investment Management | 0.01% | $1.9M | Reduced -78.7% |
| Christopher Davis | Davis Advisors | 0.01% | $1.9M | Reduced -44.7% |

## Analysts
Consensus Buy (mean 1.76 on a 1–5 scale), 21 analysts; mean target USD 584.39 (low 440, high 1,000).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-16 | Barclays | Target raised | Overweight | $665 → $670 |
| 2026-10-16 | DA Davidson | Maintained | Buy | $500 |
| 2026-10-15 | Needham | Target raised | Buy | $530 → $560 |
| 2026-10-06 | Barclays | Target raised | Overweight | $650 → $665 |
| 2026-09-02 | Stifel | Initiated | Buy | $515 |
| 2026-08-11 | Bernstein | Target raised | Outperform | $430 → $554 |
| 2026-07-27 | Needham | Target raised | Buy | $480 → $530 |
| 2026-07-17 | DA Davidson | Target raised | Buy | $450 → $500 |
| 2026-07-17 | TD Cowen | Target raised | Hold | $400 → $440 |
| 2026-07-17 | Barclays | Target raised | Overweight | $625 → $650 |
| 2026-07-16 | Susquehanna | Target raised | Positive | $575 → $600 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +43.3% | +291.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +43.5% | +31.3% |
| Volatility (annualized) | 39.1% | 34.7% |
| Max drawdown | -21.6% (Jun 2026→Jul 2026) | -55.2% (Jan 2022→Oct 2022) |

## Peers (Semiconductors)
AVGO (Broadcom Inc.) USD 323.24 -4.31% · SKHY (SK hynix Inc.) USD 131.69 -8.07% · MU (Micron Technology, Inc.) USD 856.49 -6.26% · NVDA (NVIDIA Corporation) USD 212.21 -4.40% · AMD (Advanced Micro Devices, Inc.) USD 507.93 -8.10% · INTC (Intel Corporation) USD 85.49 -8.04%

## More
Full page: https://nexqual.com/TSM · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name TSM in their own reports (relationship from TSM's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| supplier | LAM RESEARCH CORP (LRCX) | 10-K 2026-08-07 | "Our most significant customers during the fiscal years ending June 28, 2026, June 29, 2025, and June 30, 2024 included Micron Technology, Inc., Samsung Electronics Company, Ltd., SK hynix Inc., and Ta…" |
| partner | Sony Group Corp (SONY) | 20-F 2026-06-18 | "Additionally, in May 2026, SSS and Taiwan Semiconductor Manufacturing Company Limited ("TSMC") entered into a non-binding memorandum of understanding to pursue a strategic partnership for the developm…" |
| customer | Credo Technology Group Holding Ltd (CRDO) | 10-K 2026-06-15 | "In fiscal year 2026, we exclusively used Taiwan Semiconductor Manufacturing Company Limited (TSMC) for semiconductor wafer production." |
| customer | GSI TECHNOLOGY INC (GSIT) | 10-K 2026-06-05 | "Currently, all of our SRAM and APU wafers are manufactured by TSMC under individually negotiated purchase orders." |
| customer | ALLEGRO MICROSYSTEMS, INC. (ALGM) | 10-K 2026-05-21 | "We currently rely on a limited number of third-party wafer fabrication facilities for the fabrication of semiconductor wafers used in the manufacture of our IC products, primarily United Microelectron…" |
| customer | CIRRUS LOGIC, INC. (CRUS) | 10-K 2026-05-21 | "We use a variety of foundries in the production of wafers, primarily supplied by GLOBALFOUNDRIES Inc., ("GlobalFoundries") and Taiwan Semiconductor Manufacturing Company, Limited ("TSMC")." |
| customer | SEQUANS COMMUNICATIONS (SQNS) | 20-F 2026-05-11 | "For example, in 2021 and 2022, we experienced significant supply constraints for PCB and other standard components, including crystals and flash, and our supply of silicon wafers from Taiwan Semicondu…" |
| customer | Silicon Motion Technology CORP (SIMO) | 20-F 2026-04-30 | "Two outside foundries, primarily Taiwan Semiconductor Manufacturing Company ("TSMC"), and secondarily Semiconductor Manufacturing International Corporation ("SMIC"), fabricate our semiconductors." |
| customer | TOWER SEMICONDUCTOR LTD (TSEM) | 20-F 2026-04-30 | "advanced technology node-driven foundry service providers that also provide specialty technologies, such as Taiwan Semiconductor Manufacturing" |
| customer | WISeQey Corp. (WKEY) | 20-F 2026-04-30 | "To mitigate these risks and strengthen supply chain resilience, SEALSQ has expanded its ecosystem through the acquisition of IC'Alps and the establishment of preferred partnerships with leading global…" |
| customer | ASE Technology Holding Co., Ltd. (ASX) | 20-F 2026-04-01 | "Since 1997, we have maintained a strategic alliance with Taiwan Semiconductor Manufacturing Company Limited, or TSMC, one of the largest dedicated semiconductor foundries in the world." |
| customer | SEALSQ Corp (LAES) | 20-F 2026-03-31 | "To mitigate these risks and strengthen supply chain resilience, SEALSQ has expanded its ecosystem through the acquisition of IC'Alps and the establishment of preferred partnerships with leading global…" |
| customer | Peraso Inc. (PRSO) | 10-K 2026-03-30 | "Taiwan Semiconductor Manufacturing Corporation, or TSMC, the sole foundry that manufactured" |
| customer | Himax Technologies, Inc. (HIMX) | 20-F 2026-03-27 | "We have obtained our foundry services from TSMC, UMC, Vanguard, Macronix, Globalfoundries Singapore, PSMC, Nexchip and SKHYSI in the past few years." |
| customer | QUICKLOGIC Corp (QUIK) | 10-K 2026-03-27 | "For our commercial products, we outsource wafer fabrication primarily to GlobalFoundries and Taiwan Semiconductor Manufacturing Company Limited ("TSMC")." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $5.16 | $4.96 | +4.1% | $1.71T | 8 |
| Next quarter (ends 2027-03-31) | $5.19 | $4.89 | +6.2% | $1.73T | 10 |
| Current fiscal year (ends 2026-12-31) | $17.50 | $16.70 | +4.8% | $5.57T | 11 |
| Next fiscal year (ends 2027-12-31) | $23.39 | $21.28 | +9.9% | $7.67T | 13 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-01-15 (includes earnings 2027-01-14): ±13.7%; earnings reaction alone ±4.0%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 39.0% | ±4.7% |
| 2026-11-06 | 14 | 37.5% | ±6.1% |
| 2026-11-13 | 21 | 35.9% | ±7.1% |
| 2026-11-20 | 28 | 35.4% | ±8.1% |
| 2026-11-27 | 35 | 33.9% | ±8.6% |
| 2026-12-04 | 42 | 33.4% | ±9.3% |
| 2026-12-18 | 56 | 34.1% | ±10.8% |
| 2027-01-15 | 84 | 35.4% | ±13.7% |