Analog Century Management LP Acquires 101,654 Shares of Tower Semiconductor Ltd. $TSEM

Key Points

• Analog Century Management increased its stake in Tower Semiconductor by 12.3%, buying 101,654 shares to hold 925,202 shares (about $66.89M), which represents roughly 3.6% of the fund's portfolio and ~0.83% of TSEM outstanding.
• Analyst coverage is mixed with a consensus rating of "Hold" and a consensus target price of $156.75, though several firms (Benchmark, Susquehanna, Barclays, Wedbush) recently raised price targets.
• Tower beat quarterly expectations (EPS $0.78 vs. $0.67 est.) with revenue up 13.7% YoY to $440.2M; shares were trading up about 5.2% around $124.71, with a market cap near $14.0B.

Analog Century Management LP raised its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 12.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 925,202 shares of the semiconductor company's stock after purchasing an additional 101,654 shares during the period. Tower Semiconductor makes up approximately 3.6% of Analog Century Management LP's portfolio, making the stock its 15th biggest holding. Analog Century Management LP owned about 0.83% of Tower Semiconductor worth $66,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mackenzie Financial Corp lifted its holdings in shares of Tower Semiconductor by 2.6% in the third quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company's stock valued at $359,000 after purchasing an additional 127 shares in the last quarter. Westside Investment Management Inc. raised its position in Tower Semiconductor by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company's stock valued at $34,000 after buying an additional 226 shares during the last quarter. Orion Porfolio Solutions LLC lifted its stake in Tower Semiconductor by 1.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 28,517 shares of the semiconductor company's stock valued at $1,236,000 after acquiring an additional 301 shares in the last quarter. Oak Associates Ltd. OH boosted its holdings in Tower Semiconductor by 1.8% during the 2nd quarter. Oak Associates Ltd. OH now owns 20,191 shares of the semiconductor company's stock worth $875,000 after acquiring an additional 350 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Tower Semiconductor by 3.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,188 shares of the semiconductor company's stock worth $1,239,000 after acquiring an additional 603 shares during the last quarter. 70.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSEM has been the subject of several analyst reports. Barclays increased their target price on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an "equal weight" rating in a report on Friday, February 13th. Benchmark boosted their target price on Tower Semiconductor from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Susquehanna reaffirmed a "positive" rating and issued a $180.00 target price on shares of Tower Semiconductor in a report on Thursday, February 12th. Wedbush increased their price target on Tower Semiconductor from $125.00 to $140.00 and gave the company a "neutral" rating in a research report on Thursday, February 12th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Tower Semiconductor in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Tower Semiconductor currently has a consensus rating of "Hold" and a consensus target price of $156.75.

Tower Semiconductor Trading Up 5.2%

Shares of TSEM stock opened at $124.71 on Friday. The business has a 50-day moving average of $127.35 and a 200 day moving average of $102.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.48 and a quick ratio of 5.51. Tower Semiconductor Ltd. has a 1-year low of $28.64 and a 1-year high of $149.57. The stock has a market capitalization of $14.02 billion, a PE ratio of 64.62 and a beta of 0.91.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.11. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.The firm had revenue of $440.21 million during the quarter, compared to analyst estimates of $439.81 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The business's quarterly revenue was up 13.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

Tower Semiconductor Company Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company's technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.

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