Quent Capital LLC Acquires New Position in Tower Semiconductor Ltd. $TSEM

Key Points

• Quent Capital LLC opened a new position in Tower Semiconductor in Q4, buying 11,000 shares valued at approximately $1.292 million according to its latest 13F filing.
• Tower has heavy institutional ownership (about 70.51%), with notable positions including Y.D. More Investments (1,009,846 shares, ~$118.1M) and Migdal Insurance (3,002,806 shares, ~$352.6M).
• Tower recently beat Q earnings estimates ($0.78 vs. $0.67) with revenue up 13.7% YoY; the company has a market cap of ~$22.49B and a consensus Wall Street rating of “Hold” with an average target of $173 and price targets ranging up to $230.

Quent Capital LLC acquired a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,000 shares of the semiconductor company's stock, valued at approximately $1,292,000.

Other institutional investors also recently bought and sold shares of the company. Y.D. More Investments Ltd raised its position in shares of Tower Semiconductor by 4.6% in the fourth quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company's stock valued at $118,084,000 after buying an additional 44,401 shares during the last quarter. Argent Trust Co acquired a new stake in Tower Semiconductor during the third quarter worth approximately $287,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in Tower Semiconductor by 0.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company's stock worth $352,589,000 after acquiring an additional 25,000 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Tower Semiconductor in the 3rd quarter worth approximately $1,168,000. Finally, Granahan Investment Management LLC grew its stake in Tower Semiconductor by 42.6% in the 3rd quarter. Granahan Investment Management LLC now owns 178,188 shares of the semiconductor company's stock worth $12,883,000 after acquiring an additional 53,208 shares during the period. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Performance

Shares of TSEM stock opened at $199.96 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48. The firm has a market capitalization of $22.49 billion, a price-to-earnings ratio of 103.61 and a beta of 0.71. Tower Semiconductor Ltd. has a one year low of $34.73 and a one year high of $228.73. The company has a 50 day moving average price of $163.10 and a 200 day moving average price of $127.98.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The company had revenue of $440.21 million for the quarter, compared to analyst estimates of $439.81 million. During the same quarter last year, the business earned $0.49 EPS. Tower Semiconductor's revenue for the quarter was up 13.7% on a year-over-year basis. Sell-side analysts anticipate that Tower Semiconductor Ltd. will post 2.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TSEM. Barclays increased their price target on Tower Semiconductor from $114.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Friday, February 13th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Susquehanna reiterated a "positive" rating and issued a $180.00 target price on shares of Tower Semiconductor in a research note on Thursday, February 12th. Wedbush increased their target price on Tower Semiconductor from $125.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday, February 12th. Finally, Benchmark raised their price target on Tower Semiconductor from $165.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 26th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $173.00.

About Tower Semiconductor

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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