Empowered Funds LLC acquired a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,297 shares of the semiconductor company's stock, valued at approximately $754,000.
Several other large investors have also recently added to or reduced their stakes in TSEM. CIBC Private Wealth Group LLC raised its stake in Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 300 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Tower Semiconductor in the third quarter worth $48,000. Kestra Advisory Services LLC bought a new position in shares of Tower Semiconductor in the fourth quarter worth $52,000. Hanson & Doremus Investment Management acquired a new position in shares of Tower Semiconductor during the first quarter valued at $53,000. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Tower Semiconductor by 344.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company's stock valued at $61,000 after purchasing an additional 403 shares during the period. 70.51% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on TSEM shares. Wedbush lifted their price objective on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. UBS Group reiterated a "buy" rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. National Bank Financial upgraded shares of Tower Semiconductor to a "buy" rating in a research report on Friday. Benchmark reaffirmed a "buy" rating on shares of Tower Semiconductor in a research note on Wednesday. Finally, Susquehanna raised their price objective 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. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $294.80.
Read Our Latest Research Report on TSEM
Tower Semiconductor Price Performance
TSEM opened at $252.49 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.31 and a current ratio of 4.91. The company has a market capitalization of $28.39 billion, a PE ratio of 99.80 and a beta of 0.90. The stock's fifty day moving average is $244.83 and its 200-day moving average is $201.35. Tower Semiconductor Ltd. has a one year low of $45.51 and a one year high of $319.94.
Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its earnings results on Tuesday, August 4th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.12. The firm had revenue of $460.08 million for the quarter, compared to analyst estimates of $454.68 million. Tower Semiconductor had a return on equity of 9.83% and a net margin of 16.94%.Tower Semiconductor's revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. On average, equities analysts predict that Tower Semiconductor Ltd. will post 3.04 EPS for the current fiscal year.
Tower Semiconductor Company Profile
(
Free Report)
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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