Oppenheimer & Co. Inc. Boosts Stock Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Oppenheimer & Co. Inc. lifted its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 47.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,300 shares of the semiconductor company's stock after purchasing 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.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Caption Management LLC acquired a new stake in shares of Tower Semiconductor in the 4th quarter worth $155,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Tower Semiconductor in the fourth quarter valued at about $203,000. Squarepoint Ops LLC acquired a new stake in Tower Semiconductor during the fourth quarter worth about $247,000. Cetera Investment Advisers acquired a new stake in Tower Semiconductor during the fourth quarter worth about $249,000. Finally, Callan Family Office LLC purchased a new position in Tower Semiconductor during the fourth quarter worth about $323,000. Hedge funds and other institutional investors own 70.51% of the company's stock.

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock opened at $43.43 on Monday. The firm has a market cap of $4.81 billion, a PE ratio of 23.99 and a beta of 0.77. The company has a quick ratio of 5.82, a current ratio of 6.93 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 52 week low of $28.64 and a 52 week high of $55.31. The business's fifty day simple moving average is $39.56 and its 200-day simple moving average is $42.70.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its earnings results on Wednesday, May 14th. The semiconductor company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). Tower Semiconductor had a net margin of 13.86% and a return on equity of 7.73%. The company had revenue of $358.17 million during the quarter, compared to analyst estimates of $358.09 million. During the same period in the previous year, the company earned $0.40 EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts forecast that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

Analyst Ratings Changes

Separately, Benchmark reissued a "buy" rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $60.00.

Tower Semiconductor 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.

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