Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Buys Shares of 931,334 Tower Semiconductor Ltd. (NASDAQ:TSEM)

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 931,334 shares of the semiconductor company's stock, valued at approximately $33,211,000. Tower Semiconductor accounts for about 5.5% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management's investment portfolio, making the stock its 6th biggest holding. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management owned about 0.84% of Tower Semiconductor as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Caption Management LLC acquired a new position in shares of Tower Semiconductor in the 4th quarter valued at about $155,000. Squarepoint Ops LLC purchased a new position in Tower Semiconductor in the fourth quarter valued at approximately $247,000. Cetera Investment Advisers acquired a new position in Tower Semiconductor during the fourth quarter valued at approximately $249,000. Fifth Third Bancorp grew its stake in Tower Semiconductor by 18.0% during the first quarter. Fifth Third Bancorp now owns 9,885 shares of the semiconductor company's stock worth $352,000 after buying an additional 1,509 shares during the period. Finally, Brasada Capital Management LP acquired a new stake in shares of Tower Semiconductor in the fourth quarter worth $412,000. Institutional investors and hedge funds own 70.51% of the company's stock.

Tower Semiconductor Stock Down 0.8%

NASDAQ TSEM traded down $0.40 on Friday, reaching $48.54. The company had a trading volume of 744,197 shares, compared to its average volume of 608,334. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.93 and a quick ratio of 5.82. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $55.31. The firm has a 50-day moving average of $42.04 and a 200-day moving average of $42.20. The firm has a market capitalization of $5.38 billion, a PE ratio of 26.82 and a beta of 0.79.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced its earnings results on Wednesday, May 14th. The semiconductor company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Tower Semiconductor had a net margin of 13.86% and a return on equity of 7.73%. The firm had revenue of $358.17 million during the quarter, compared to analysts' expectations of $358.09 million. During the same quarter last year, the company posted $0.40 earnings per share. Tower Semiconductor's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Benchmark reaffirmed a "buy" rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Thursday, May 15th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Tower Semiconductor presently has an average rating of "Moderate Buy" and a consensus price target of $60.00.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.