Boston, MA 04/11/2014 (wallstreetpr) – Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) is the world’s leading foundry manufacturer of chips. The company serves the global market, and it has a market value of $103 billion. The company provides chips for smartphones, tablets and other electronic devices.
In the latest move, the company reduced of its stake in Vanguard International Semiconductor Corp., but it said no further reduction is possible in the foreseeable future. The chipmaker cut its stake in Vanguard by 5 percent. It now owns 33.3 percent stake in a small chip manufacturer. The company generated $3.5 billion or $116 million in proceeds through the transaction.
Even with the sale of a stake in Vanguard, Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) remains the largest investors in the smaller chip maker.
Strong first quarter sales
Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) reported Thursday that its first quarter sales grew beyond expectation. The strong sales were attributed to the increasing demand for chips, especially the 28nm, around the world.
For the three months duration of January to March, sales hit T$148.22 billion or $4.94 billion. The new sales figures reflected 1.7 percent increase over the figures realized in the fourth quarter. Compared with the corresponding first quarter of 2013, sales jumped 11.7 percent.
The company had expected to realize sales of T$147 billion for the first quarter.
Breaching tradition
In coming to report higher than expected sales in the first quarter, Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) successfully breached the troubles that traditionally impact semiconductor sales in the fiscal first quarter.
Integrated circuits companies typically suffer low season sales in the first three months of the year, but it seems TSM sailed through successfully. Once again that reaffirms the company’s strengthening and expanding market coverage.
In the month of March alone, Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) realized total sales of T$49.96 billion, an increase of 6.7 percent over sales in February and 13.2 percent increase over sales in the corresponding month one year ago.
