Tower Semiconductor Ltd. (NASDAQ:TSEM) Holdings Boosted by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 47.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 29,300 shares of the semiconductor company's stock after acquiring an additional 9,400 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Tower Semiconductor were worth $1,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TSEM. Nebula Research & Development LLC lifted its position in Tower Semiconductor by 4.2% in the fourth quarter. Nebula Research & Development LLC now owns 9,636 shares of the semiconductor company's stock valued at $496,000 after acquiring an additional 388 shares during the last quarter. Mariner LLC increased its position in shares of Tower Semiconductor by 6.7% during the fourth quarter. Mariner LLC now owns 8,485 shares of the semiconductor company's stock worth $437,000 after purchasing an additional 533 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Tower Semiconductor by 5.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,577 shares of the semiconductor company's stock valued at $703,000 after purchasing an additional 643 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Tower Semiconductor by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 94,666 shares of the semiconductor company's stock valued at $4,876,000 after purchasing an additional 819 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Tower Semiconductor by 5.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,593 shares of the semiconductor company's stock valued at $1,421,000 after purchasing an additional 1,306 shares during the period. Institutional investors and hedge funds own 70.51% of the company's stock.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a "buy" rating and issued a $60.00 price target on shares of Tower Semiconductor in a research report on Thursday, May 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Tower Semiconductor currently has an average rating of "Moderate Buy" and an average price target of $60.00.

Tower Semiconductor Trading Up 7.7%

Shares of NASDAQ TSEM traded up $3.38 on Thursday, reaching $47.05. 987,112 shares of the company traded hands, compared to its average volume of 594,805. 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 50 day moving average of $40.02 and a 200 day moving average of $42.65. The stock has a market capitalization of $5.21 billion, a PE ratio of 25.99 and a beta of 0.79. The company has a current ratio of 6.93, a quick ratio of 5.82 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $358.17 million during the quarter, compared to analyst estimates of $358.09 million. Tower Semiconductor had a net margin of 13.86% and a return on equity of 7.73%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, equities research analysts forecast that Tower Semiconductor Ltd. will post 1.67 earnings per share 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.