E20 Capital Ltd Purchases New Holdings in Tower Semiconductor Ltd. $TSEM

Key Points

• E20 Capital Ltd. purchased 613,788 shares of Tower Semiconductor in the first quarter, worth approximately $107.7 million. The position represents 10.1% of E20’s portfolio and about 0.55% of Tower Semiconductor’s outstanding shares.
• Several major institutional investors increased their Tower Semiconductor holdings, including T. Rowe Price, Vanguard, Migdal Insurance, Goldman Sachs and Wellington Management. Institutional investors collectively own 70.51% of the company.
• Analysts maintain a generally positive outlook, with Tower Semiconductor receiving a consensus “Moderate Buy” rating and an average price target of $276.75. Recent targets ranged from $300 to $330, while the stock opened at $211.16 and has traded between $43.12 and $319.94 over the past year.

E20 Capital Ltd purchased a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 613,788 shares of the semiconductor company's stock, valued at approximately $107,708,000. Tower Semiconductor makes up approximately 10.1% of E20 Capital Ltd's investment portfolio, making the stock its 3rd biggest holding. E20 Capital Ltd owned approximately 0.55% of Tower Semiconductor at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSEM. Price T Rowe Associates Inc. MD grew its stake in shares of Tower Semiconductor by 3,222.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,682,152 shares of the semiconductor company's stock valued at $549,779,000 after buying an additional 4,541,235 shares in the last quarter. Vanguard Group Inc. increased its holdings in Tower Semiconductor by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,338,080 shares of the semiconductor company's stock worth $507,317,000 after buying an additional 53,112 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised 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 acquiring an additional 25,000 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Tower Semiconductor by 214.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company's stock worth $259,083,000 after acquiring an additional 1,505,421 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake 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 valued at $152,409,000 after acquiring an additional 15,461 shares during the last quarter. Institutional investors own 70.51% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TSEM. UBS Group reissued a "buy" rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Benchmark reaffirmed a "buy" rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Susquehanna raised their target price on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a "positive" rating in a research note on Thursday, May 14th. Finally, Wedbush lifted their price target on Tower Semiconductor from $140.00 to $300.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Tower Semiconductor presently has a consensus rating of "Moderate Buy" and an average target price of $276.75.

Tower Semiconductor Trading Up 12.4%

Shares of Tower Semiconductor stock opened at $211.16 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92. The business has a fifty day simple moving average of $250.47 and a two-hundred day simple moving average of $196.92. Tower Semiconductor Ltd. has a 1 year low of $43.12 and a 1 year high of $319.94. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 98.21 and a beta of 0.87.

About Tower Semiconductor

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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