Cambiar Investors LLC Buys 18,839 Shares of Tower Semiconductor Ltd. $TSEM

Key Points

• Cambiar Investors LLC increased its stake in Tower Semiconductor (NASDAQ:TSEM) by 60.7%, buying an additional 18,839 shares to hold 49,864 shares valued at about $5.86 million per its latest 13F filing.
• Tower beat quarterly expectations with EPS of $0.78 vs. $0.67 estimated and revenue of $440.2M (up 13.7% YoY), and several analysts have since raised price targets (Benchmark to $230) amid mixed Buy/Hold ratings.
• Institutional investors own roughly 70.51% of TSEM; the stock trades near its 12‑month high (opened at $203.59, 12‑month high $212) with a market cap of about $22.9 billion and a P/E around 105.

Cambiar Investors LLC grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 60.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,864 shares of the semiconductor company's stock after buying an additional 18,839 shares during the period. Cambiar Investors LLC's holdings in Tower Semiconductor were worth $5,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Tower Semiconductor by 1.9% during the third quarter. Vanguard Group Inc. now owns 4,284,968 shares of the semiconductor company's stock valued at $305,630,000 after buying an additional 78,697 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in Tower Semiconductor by 7.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,977,806 shares of the semiconductor company's stock worth $215,295,000 after purchasing an additional 200,000 shares during the last quarter. Jennison Associates LLC increased its position in Tower Semiconductor by 18.8% in the third quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company's stock worth $168,591,000 after purchasing an additional 369,600 shares during the last quarter. Meitav Investment House Ltd. increased its position in Tower Semiconductor by 1.2% in the third quarter. Meitav Investment House Ltd. now owns 2,268,503 shares of the semiconductor company's stock worth $162,870,000 after purchasing an additional 25,989 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Tower Semiconductor by 0.7% in the third quarter. Wellington Management Group LLP now owns 2,108,004 shares of the semiconductor company's stock worth $152,409,000 after purchasing an additional 15,461 shares during the last quarter. Institutional investors own 70.51% of the company's stock.

Tower Semiconductor Trading Down 0.1%

TSEM stock opened at $203.59 on Friday. The company has a quick ratio of 5.51, a current ratio of 6.48 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a twelve month low of $32.63 and a twelve month high of $212.00. The stock has a market capitalization of $22.89 billion, a price-to-earnings ratio of 105.49 and a beta of 0.71. The firm's fifty day simple moving average is $147.39 and its two-hundred day simple moving average is $118.11.

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 for the quarter, beating analysts' consensus estimates of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The business had revenue of $440.21 million for the quarter, compared to analysts' expectations of $439.81 million. During the same quarter in the previous year, the business posted $0.49 earnings per share. The business's revenue was up 13.7% compared to the same quarter last year. As a group, analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Tower Semiconductor 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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