Tower Semiconductor Ltd. $TSEM Stock Position Increased by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank boosted its stake in Tower Semiconductor by 44.5% in Q4 to 41,768 shares worth about $4.9 million, and institutional investors now own roughly 70.51% of the stock.
• Tower Semiconductor beat quarterly expectations with $0.78 EPS versus $0.67 expected and revenue of $440.2M (up 13.7% YoY); the shares trade near $200 with a market cap of $22.49B and a high P/E of about 103.6.
• Analyst sentiment is mixed—the consensus is a "Hold" with an average target of $173, though some firms have raised targets (Benchmark to $230) and ratings split between buys and holds.

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 44.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,768 shares of the semiconductor company's stock after purchasing an additional 12,870 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Tower Semiconductor were worth $4,904,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. USA Financial Formulas bought a new stake in Tower Semiconductor in the 4th quarter valued at about $27,000. CIBC Private Wealth Group LLC lifted its position in Tower Semiconductor by 254.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Westside Investment Management Inc. lifted its position in Tower Semiconductor by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 226 shares during the last quarter. CoreCap Advisors LLC bought a new stake in Tower Semiconductor in the 4th quarter valued at about $68,000. Finally, Farther Finance Advisors LLC lifted its position in Tower Semiconductor by 575.3% in the 4th quarter. Farther Finance Advisors LLC now owns 655 shares of the semiconductor company's stock valued at $77,000 after purchasing an additional 558 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Stock Down 0.6%

Tower Semiconductor stock opened at $199.96 on Friday. The company's 50-day moving average price is $163.10 and its two-hundred day moving average price is $127.59. The stock has a market cap of $22.49 billion, a price-to-earnings ratio of 103.61 and a beta of 0.71. The company has a current ratio of 6.48, a quick ratio of 5.51 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 52 week low of $34.73 and a 52 week high of $228.73.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 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 for the quarter, compared to the consensus estimate of $439.81 million. During the same period in the previous year, the firm earned $0.49 EPS. The business's revenue for the quarter was up 13.7% on a year-over-year basis. On average, analysts expect that Tower Semiconductor Ltd. will post 2.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TSEM shares. Barclays lifted their price objective on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an "equal weight" rating in a research report on Friday, February 13th. Susquehanna reissued a "positive" rating and set a $180.00 target price on shares of Tower Semiconductor in a research note on Thursday, February 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Benchmark raised their target price on shares of Tower Semiconductor from $165.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, March 26th. Finally, Wedbush raised their target price on shares of Tower Semiconductor from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, February 12th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average 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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