Deutsche Bank AG raised its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,467 shares of the semiconductor company's stock after purchasing an additional 9,476 shares during the quarter. Deutsche Bank AG owned 0.13% of Tower Semiconductor worth $5,223,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. purchased a new position in Tower Semiconductor in the 1st quarter worth about $551,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Tower Semiconductor by 8.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 14,715 shares of the semiconductor company's stock valued at $525,000 after purchasing an additional 1,138 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Tower Semiconductor in the 4th quarter worth $247,000. 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, Cetera Investment Advisers acquired a new stake in shares of Tower Semiconductor during the fourth quarter valued at about $249,000. Hedge funds and other institutional investors own 70.51% of the company's stock.
Tower Semiconductor Stock Performance
TSEM stock opened at $46.87 on Monday. The company has a quick ratio of 5.50, a current ratio of 6.57 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $45.00 and a 200 day simple moving average of $41.56. Tower Semiconductor Ltd. has a fifty-two week low of $28.64 and a fifty-two week high of $55.31. The company has a market capitalization of $5.19 billion, a P/E ratio of 26.94 and a beta of 0.77.
Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its earnings results on Monday, August 4th. The semiconductor company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). The business had revenue of $372.06 million during the quarter, compared to analyst estimates of $371.63 million. Tower Semiconductor had a net margin of 13.20% and a return on equity of 7.37%. Tower Semiconductor's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. Sell-side analysts predict that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Wedbush set a $65.00 price target on shares of Tower Semiconductor and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Benchmark reissued a "buy" rating and issued a $66.00 price objective (up from $60.00) on shares of Tower Semiconductor in a research note on Monday, August 4th. Finally, Susquehanna set a $66.00 price target on shares of Tower Semiconductor and gave the stock a "positive" rating in a research note on Tuesday, August 5th. 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $64.25.
View Our Latest Stock Report on Tower Semiconductor
About Tower Semiconductor
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Tower Semiconductor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tower Semiconductor wasn't on the list.
While Tower Semiconductor currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access