Menora Mivtachim Holdings LTD. Increases Stock Holdings in Tower Semiconductor Ltd. $TSEM

Key Points

• Menora Mivtachim Holdings LTD. increased its stake in Tower Semiconductor Ltd. by 39.7%, owning 1,879,207 shares worth approximately $67.01 million after acquiring additional shares in the first quarter.
• Tower Semiconductor reported earnings per share of $0.41, missing analysts' expectations of $0.47, but its quarterly revenue increased by 6% compared to the previous year, reaching $372.06 million.
• Analysts have set new price targets for Tower Semiconductor, with several firms advocating a "buy" rating and price objectives ranging from $65.00 to $66.00.

Menora Mivtachim Holdings LTD. lifted its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 39.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,879,207 shares of the semiconductor company's stock after acquiring an additional 533,700 shares during the period. Menora Mivtachim Holdings LTD. owned 1.70% of Tower Semiconductor worth $67,013,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. TCTC Holdings LLC boosted its stake in Tower Semiconductor by 117.9% in the 1st quarter. TCTC Holdings LLC now owns 706 shares of the semiconductor company's stock worth $25,000 after buying an additional 382 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Tower Semiconductor in the 1st quarter worth about $39,000. Headlands Technologies LLC acquired a new stake in Tower Semiconductor in the 1st quarter worth about $75,000. Caption Management LLC acquired a new stake in Tower Semiconductor in the 4th quarter worth about $155,000. Finally, Squarepoint Ops LLC acquired a new stake in Tower Semiconductor in the 4th quarter worth about $247,000. Institutional investors and hedge funds own 70.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSEM. Wedbush set a $65.00 price target on Tower Semiconductor and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Susquehanna set a $66.00 price objective on Tower Semiconductor and gave the stock a "positive" rating in a report on Tuesday, August 5th. Finally, Benchmark restated a "buy" rating and issued a $66.00 price objective (up from $60.00) on shares of Tower Semiconductor in a report on Monday, August 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $64.25.

Tower Semiconductor Trading Up 5.0%

Shares of Tower Semiconductor stock traded up $2.34 during trading hours on Monday, reaching $49.21. The stock had a trading volume of 1,027,349 shares, compared to its average volume of 917,130. The firm has a 50 day simple moving average of $45.15 and a two-hundred day simple moving average of $41.56. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 28.28 and a beta of 0.77. The company has a current ratio of 6.57, a quick ratio of 5.50 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $55.31.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced its earnings results on Monday, August 4th. The semiconductor company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.06). The company had revenue of $372.06 million for the quarter, compared to analysts' expectations of $371.63 million. Tower Semiconductor had a net margin of 13.20% and a return on equity of 7.37%. The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. As a group, equities research analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

Tower Semiconductor Company 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.