Calamos Advisors LLC Buys 15,079 Shares of Tower Semiconductor Ltd. $TSEM

Key Points

• Calamos Advisors LLC increased its stake in Tower Semiconductor by 156% in Q4, buying an additional 15,079 shares to hold 24,743 shares worth about $2.905 million.
• Tower Semiconductor beat Q4 estimates with $0.78 EPS vs. $0.67 expected and reported revenue of $440.21 million (up 13.7% year-over-year), and analysts forecast FY EPS of 2.64.
• The stock carries a MarketBeat consensus rating of "Hold" with an average target of $173, is trading around $199.96 (12‑month high $228.73), and roughly 70.51% of shares are owned by hedge funds and institutional investors.

Calamos Advisors LLC raised its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 156.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,743 shares of the semiconductor company's stock after buying an additional 15,079 shares during the quarter. Calamos Advisors LLC's holdings in Tower Semiconductor were worth $2,905,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Y.D. More Investments Ltd grew its position in Tower Semiconductor by 4.6% during the fourth quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company's stock worth $118,084,000 after buying an additional 44,401 shares in the last quarter. Argent Trust Co purchased a new position in Tower Semiconductor during the third quarter worth about $287,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Tower Semiconductor by 0.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company's stock worth $352,589,000 after buying an additional 25,000 shares in the last quarter. Granahan Investment Management LLC grew its position in Tower Semiconductor by 42.6% during the third quarter. Granahan Investment Management LLC now owns 178,188 shares of the semiconductor company's stock worth $12,883,000 after buying an additional 53,208 shares in the last quarter. Finally, Rockingstone Advisors LLC purchased a new position in Tower Semiconductor during the fourth quarter worth about $5,296,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on TSEM. Weiss Ratings restated a "hold (c)" rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Benchmark boosted their target price on Tower Semiconductor from $165.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, March 26th. Barclays boosted their target price on Tower Semiconductor from $114.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Friday, February 13th. Wedbush boosted their target price on Tower Semiconductor from $125.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday, February 12th. Finally, Susquehanna restated a "positive" rating and set a $180.00 target price on shares of Tower Semiconductor in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Tower Semiconductor presently has a consensus rating of "Hold" and an average target price of $173.00.

Tower Semiconductor Price Performance

TSEM opened at $199.96 on Monday. The stock has a 50-day moving average price of $163.10 and a 200-day moving average price of $128.36. Tower Semiconductor Ltd. has a 12-month low of $34.73 and a 12-month high of $228.73. The company has a current ratio of 6.48, a quick ratio of 5.51 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $22.49 billion, a P/E ratio of 103.61 and a beta of 0.71.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its quarterly earnings data 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. 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 analysts' expectations of $439.81 million. During the same period in the prior year, the business earned $0.49 EPS. The company's revenue for the quarter was up 13.7% compared to the same quarter last year. Equities analysts predict that Tower Semiconductor Ltd. will post 2.64 earnings per share for the current fiscal 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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