Tower Semiconductor Ltd. $TSEM Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group raised its stake in Tower Semiconductor by 1.2% in Q4, buying 53,112 shares to hold 4,338,080 shares valued at about $507.3 million.
• Tower beat quarterly expectations with EPS of $0.78 versus $0.67 estimated and reported revenue of $440.2 million, up 13.7% year-over-year.
• The stock is trading near its 52-week high (opened at $225.53; high $228.99) with a market cap of $25.36 billion and a high P/E of 116.86, while analysts maintain a consensus rating of Hold and an average price target of $173.00.

Vanguard Group Inc. raised its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,338,080 shares of the semiconductor company's stock after purchasing an additional 53,112 shares during the quarter. Vanguard Group Inc.'s holdings in Tower Semiconductor were worth $507,317,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TSEM. Calamos Advisors LLC grew its stake in shares of Tower Semiconductor by 156.0% in the fourth quarter. Calamos Advisors LLC now owns 24,743 shares of the semiconductor company's stock valued at $2,905,000 after buying an additional 15,079 shares in the last quarter. WT Asset Management Ltd purchased a new position in Tower Semiconductor in the 4th quarter worth approximately $78,967,000. Rockingstone Advisors LLC purchased a new position in Tower Semiconductor in the 4th quarter worth approximately $5,296,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Tower Semiconductor by 0.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company's stock valued at $352,589,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its position in Tower Semiconductor by 2.6% in the fourth quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company's stock valued at $601,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company's stock.

Tower Semiconductor Stock Performance

Tower Semiconductor stock opened at $225.53 on Wednesday. Tower Semiconductor Ltd. has a 52 week low of $35.42 and a 52 week high of $228.99. The company has a current ratio of 6.48, a quick ratio of 5.51 and a debt-to-equity ratio of 0.05. The stock has a market cap of $25.36 billion, a P/E ratio of 116.86 and a beta of 0.85. The stock has a 50 day moving average of $171.17 and a 200-day moving average of $133.12.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping 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 business had revenue of $440.21 million during the quarter, compared to analyst estimates of $439.81 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The business's revenue was up 13.7% compared to the same quarter last year. On average, analysts expect that Tower Semiconductor Ltd. will post 2.64 EPS for the current fiscal year.

Analyst Ratings Changes

TSEM has been the topic of a number of recent research reports. Wedbush boosted their target price on shares of Tower Semiconductor from $125.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday, February 12th. Benchmark raised their price target on shares of Tower Semiconductor from $165.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 26th. Susquehanna reaffirmed a "positive" rating and set a $180.00 price target on shares of Tower Semiconductor in a research note on Thursday, February 12th. Finally, Barclays raised 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 research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Tower Semiconductor has a consensus rating of "Hold" and an average price target of $173.00.

Tower Semiconductor Profile

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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