Boothbay Fund Management LLC Has $5.17 Million Stock Holdings in Tower Semiconductor Ltd. $TSEM

Key Points

• Boothbay Fund Management boosted its stake in Tower Semiconductor by 153.5%, acquiring an additional 43,293 shares to hold 71,493 shares worth about $5.17 million (roughly 0.06% of the company) at the end of the quarter.
• Tower Semiconductor posted a quarterly EPS of $0.78 (vs. $0.67 est.) and revenue of $440.21 million, up 13.7% year-over-year, and the company has a market cap of about $14.02 billion with a P/E of 64.62.
• Analyst sentiment is mixed: the consensus rating is Hold with an average price target of $156.75, while recent price targets range roughly from $140 to $180 and analysts are split between Buy and Hold ratings.

Boothbay Fund Management LLC raised its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 153.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,493 shares of the semiconductor company's stock after buying an additional 43,293 shares during the quarter. Boothbay Fund Management LLC owned 0.06% of Tower Semiconductor worth $5,169,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TSEM. Westside Investment Management Inc. grew its stake in shares of Tower Semiconductor by 100.0% in the third quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company's stock worth $34,000 after acquiring an additional 226 shares during the last quarter. Covestor Ltd acquired a new position in Tower Semiconductor during the 3rd quarter valued at $52,000. GF Fund Management CO. LTD. acquired a new position in Tower Semiconductor during the 3rd quarter valued at $83,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Tower Semiconductor in the 3rd quarter valued at $92,000. Finally, Quadrant Capital Group LLC bought a new stake in Tower Semiconductor in the 3rd quarter valued at $125,000. 70.51% of the stock is owned by institutional investors.

Tower Semiconductor Price Performance

Shares of Tower Semiconductor stock opened at $124.71 on Monday. The firm has a market cap of $14.02 billion, a P/E ratio of 64.62 and a beta of 0.91. The firm's 50-day simple moving average is $127.35 and its 200-day simple moving average is $102.64. Tower Semiconductor Ltd. has a twelve month low of $28.64 and a twelve month high of $149.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wedbush upped their price objective on shares of Tower Semiconductor from $125.00 to $140.00 and gave the company a "neutral" rating in a research report on Thursday, February 12th. Susquehanna restated a "positive" rating and set a $180.00 price target on shares of Tower Semiconductor in a research note on Thursday, February 12th. Benchmark upped their price target on Tower Semiconductor from $150.00 to $165.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Finally, Barclays lifted their price objective on Tower Semiconductor from $114.00 to $142.00 and gave the stock an "equal weight" rating in a report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Tower Semiconductor has an average rating of "Hold" and a consensus price target of $156.75.

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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