Tower Semiconductor Ltd. $TSEM Shares Bought by GF Fund Management CO. LTD.

Key Points

• GF Fund Management dramatically increased its position in Tower Semiconductor, raising its stake by 26,835.5% in Q4 to own 308,412 shares (about 0.28% of the company) valued at roughly $36.2 million after buying an additional 307,267 shares.
• Tower's stock jumped 5.4% and is trading near its 1-year high (opened at $226.45), while Q4 results showed EPS of $0.78 beating the $0.67 estimate and revenue of $440.21M, up 13.7% year-over-year; the company has a $25.46B market cap and a PE of 117.33.
• Analyst sentiment is mixed with a MarketBeat consensus of "Hold" and a $173 price target, though some firms have raised targets (Benchmark to $230); overall there are two Buy and three Hold ratings.

GF Fund Management CO. LTD. raised its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 26,835.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,412 shares of the semiconductor company's stock after purchasing an additional 307,267 shares during the period. GF Fund Management CO. LTD. owned about 0.28% of Tower Semiconductor worth $36,214,000 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 TSEM. USA Financial Formulas acquired a new stake in shares of Tower Semiconductor during the 4th quarter worth about $27,000. CIBC Private Wealth Group LLC grew its stake in Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company's stock worth $30,000 after buying an additional 300 shares during the last quarter. Westside Investment Management Inc. grew its stake in Tower Semiconductor by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company's stock worth $34,000 after buying an additional 226 shares during the last quarter. Advisory Services Network LLC purchased a new position in Tower Semiconductor during the 3rd quarter worth approximately $48,000. Finally, Covestor Ltd purchased a new position in Tower Semiconductor during the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 70.51% of the company's stock.

Tower Semiconductor Stock Up 5.4%

Tower Semiconductor stock opened at $226.45 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.48 and a quick ratio of 5.51. Tower Semiconductor Ltd. has a 1-year low of $34.47 and a 1-year high of $227.23. The company has a market cap of $25.46 billion, a PE ratio of 117.33 and a beta of 0.71. The stock's 50 day moving average price is $155.74 and its 200 day moving average price is $122.88.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted 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 return on equity of 7.86% and a net margin of 14.08%.The firm had revenue of $440.21 million for the quarter, compared to the consensus estimate of $439.81 million. During the same period in the previous year, the business earned $0.49 earnings per share. The company's revenue for the quarter was up 13.7% compared to the same quarter last year. On average, sell-side analysts predict that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TSEM shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Benchmark lifted their target price on Tower Semiconductor from $165.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, March 26th. 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 lifted their target price on Tower Semiconductor from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, February 12th. Finally, Barclays lifted their target price on Tower Semiconductor from $114.00 to $142.00 and gave the company an "equal weight" rating in a research note on Friday, February 13th. 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, the company has a consensus rating of "Hold" and a consensus price target 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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