Cambridge Investment Research Advisors Inc. Buys Shares of 15,456 Tower Semiconductor Ltd. (NASDAQ:TSEM)

Cambridge Investment Research Advisors Inc. acquired a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,456 shares of the semiconductor company's stock, valued at approximately $551,000.

Other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Tower Semiconductor by 8.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,715 shares of the semiconductor company's stock worth $525,000 after buying an additional 1,138 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Tower Semiconductor in the fourth quarter worth approximately $247,000. Cetera Investment Advisers bought a new position in shares of Tower Semiconductor in the fourth quarter worth approximately $249,000. Fifth Third Bancorp lifted its stake in shares of Tower Semiconductor by 18.0% in 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 in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Tower Semiconductor by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 94,666 shares of the semiconductor company's stock worth $4,876,000 after buying an additional 819 shares in the last quarter. Institutional investors own 70.51% of the company's stock.

Tower Semiconductor Stock Performance

Shares of TSEM traded up $0.44 during mid-day trading on Friday, hitting $45.29. 401,137 shares of the company traded hands, compared to its average volume of 604,093. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.82 and a current ratio of 6.93. The stock has a 50-day moving average price of $41.26 and a two-hundred day moving average price of $42.37. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $55.31. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 25.02 and a beta of 0.79.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $358.17 million for the quarter, compared to analysts' expectations of $358.09 million. During the same period in the previous year, the firm earned $0.40 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a "buy" rating and issued a $60.00 target price on shares of Tower Semiconductor in a research note on Thursday, May 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.00.

Tower Semiconductor 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.