Thursday, September 14, 2023 - Shares of Taiwan Semiconductor Manufacturing Co. and Nvidia Corp . (NASDAQ:NVDA), both significant investors in U.K.-based chip designer ARM Holdings (LON:ARM) PLC, saw growth as ARM made its Nasdaq trading debut today. The semiconductor manufacturing company experienced a 1.4% rise in shares, while the graphics processing unit manufacturer's shares climbed nearly 1%.
ARM Holdings had set their initial public offering (IPO) price at $51 per share, a figure close to the high end of the anticipated range. This pricing decision, announced late Wednesday, attracted investments from numerous companies, including Taiwan Semiconductor Manufacturing and Nvidia.
However, not all tech companies witnessed positive market responses this week. Semtech (NASDAQ:SMTC) Corp., an analog and mixed-signal chip maker, saw a 6% drop in its shares due to the company's forecast of a loss for the current quarter, which contradicted Wall Street's profit expectations.
In other market news, Berkshire Hathaway (NYSE:BRKa) sold 5.5 million shares of PC and printer manufacturer HP Inc (NYSE:HPQ)., leading to a 1.2% decrease in HP's shares. The sale was disclosed in a Securities and Exchange Commission filing late Wednesday.
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