Verdence Capital Advisors LLC Takes Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Verdence Capital Advisors LLC acquired a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 13,381 shares of the semiconductor company's stock, valued at approximately $477,000.

Several other institutional investors also recently bought and sold shares of TSEM. Victory Capital Management Inc. increased its holdings in shares of Tower Semiconductor by 2.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,985,110 shares of the semiconductor company's stock worth $70,789,000 after buying an additional 50,980 shares during the last quarter. Tectonic Advisors LLC increased its holdings in shares of Tower Semiconductor by 29.2% during the 1st quarter. Tectonic Advisors LLC now owns 22,513 shares of the semiconductor company's stock worth $803,000 after buying an additional 5,082 shares during the last quarter. Penserra Capital Management LLC increased its holdings in shares of Tower Semiconductor by 41.0% during the 1st quarter. Penserra Capital Management LLC now owns 333,231 shares of the semiconductor company's stock worth $11,883,000 after buying an additional 96,925 shares during the last quarter. Hunter Perkins Capital Management LLC increased its holdings in shares of Tower Semiconductor by 12.1% during the 1st quarter. Hunter Perkins Capital Management LLC now owns 24,265 shares of the semiconductor company's stock worth $865,000 after buying an additional 2,610 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its holdings in shares of Tower Semiconductor by 46.1% during the 1st quarter. GHP Investment Advisors Inc. now owns 18,016 shares of the semiconductor company's stock worth $642,000 after buying an additional 5,688 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Stock Performance

NASDAQ TSEM traded down $0.38 during trading hours on Wednesday, reaching $48.45. The company's stock had a trading volume of 551,332 shares, compared to its average volume of 613,350. The company has a current ratio of 6.93, a quick ratio of 5.82 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $42.76 and a 200 day simple moving average of $42.12. Tower Semiconductor Ltd. has a 52 week low of $28.64 and a 52 week high of $55.31. The stock has a market cap of $5.37 billion, a PE ratio of 26.77 and a beta of 0.79.

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

Analyst Ratings Changes

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

Tower Semiconductor 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.