15,456 Shares in Tower Semiconductor Ltd. (NASDAQ:TSEM) Bought by Cambridge Investment Research Advisors Inc.

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

Several other institutional investors and hedge funds have also recently modified their holdings of TSEM. Raymond James Financial Inc. acquired a new position in shares of Tower Semiconductor during the fourth quarter worth $1,347,000. Callan Family Office LLC purchased a new position in Tower Semiconductor in the fourth quarter valued at about $323,000. Amundi increased its stake in shares of Tower Semiconductor by 86.3% during the 4th quarter. Amundi now owns 11,575 shares of the semiconductor company's stock worth $598,000 after purchasing an additional 5,361 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Tower Semiconductor by 5.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,593 shares of the semiconductor company's stock worth $1,421,000 after purchasing an additional 1,306 shares in the last quarter. Finally, King Luther Capital Management Corp grew its stake in Tower Semiconductor by 3.6% in the 4th quarter. King Luther Capital Management Corp now owns 233,218 shares of the semiconductor company's stock worth $12,013,000 after acquiring an additional 8,111 shares during the period. Hedge funds and other institutional investors own 70.51% of the company's stock.

Analysts Set New Price Targets

Separately, Benchmark reaffirmed 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.00.

Tower Semiconductor Stock Up 1.0%

Shares of NASDAQ:TSEM traded up $0.46 during midday trading on Wednesday, hitting $45.00. 817,865 shares of the company's stock traded hands, compared to its average volume of 602,706. 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 company has a market cap of $4.99 billion, a PE ratio of 24.86 and a beta of 0.79. The firm's fifty day moving average price is $40.75 and its two-hundred day moving average price is $42.44. Tower Semiconductor Ltd. has a twelve month low of $28.64 and a twelve month high of $55.31.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its earnings results 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 business had revenue of $358.17 million for the quarter, compared to analyst estimates of $358.09 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The business's revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

About Tower Semiconductor

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.