Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC raised its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 41.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,231 shares of the semiconductor company's stock after purchasing an additional 96,925 shares during the period. Penserra Capital Management LLC owned about 0.30% of Tower Semiconductor worth $11,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Caption Management LLC purchased a new stake in shares of Tower Semiconductor during the fourth quarter worth approximately $155,000. Squarepoint Ops LLC acquired a new position in Tower Semiconductor during the 4th quarter worth approximately $247,000. Cetera Investment Advisers purchased a new stake in shares of Tower Semiconductor in the 4th quarter valued at approximately $249,000. Callan Family Office LLC acquired a new stake in shares of Tower Semiconductor in the 4th quarter valued at $323,000. Finally, Fifth Third Bancorp lifted its position in shares of Tower Semiconductor by 18.0% during the 1st quarter. Fifth Third Bancorp now owns 9,885 shares of the semiconductor company's stock worth $352,000 after purchasing an additional 1,509 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company's stock.

Tower Semiconductor Stock Down 2.8%

Shares of NASDAQ:TSEM traded down $1.28 during trading on Monday, hitting $45.12. 817,189 shares of the company were exchanged, compared to its average volume of 597,991. The firm's 50 day moving average price is $40.42 and its 200-day moving average price is $42.47. Tower Semiconductor Ltd. has a 12-month low of $28.64 and a 12-month high of $55.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.93 and a quick ratio of 5.82. The stock has a market capitalization of $5.00 billion, a P/E ratio of 24.93 and a beta of 0.79.

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

Analyst Upgrades and Downgrades

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

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.