13,381 Shares in Tower Semiconductor Ltd. (NASDAQ:TSEM) Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC purchased a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,381 shares of the semiconductor company's stock, valued at approximately $477,000.

A number of other institutional investors also recently bought and sold shares of TSEM. Nebula Research & Development LLC increased its stake in shares of Tower Semiconductor by 4.2% during the fourth quarter. Nebula Research & Development LLC now owns 9,636 shares of the semiconductor company's stock valued at $496,000 after purchasing an additional 388 shares in the last quarter. Mariner LLC increased its stake in shares of Tower Semiconductor by 6.7% during the fourth quarter. Mariner LLC now owns 8,485 shares of the semiconductor company's stock valued at $437,000 after purchasing an additional 533 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Tower Semiconductor by 5.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,577 shares of the semiconductor company's stock valued at $703,000 after purchasing an additional 643 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Tower Semiconductor by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 94,666 shares of the semiconductor company's stock valued at $4,876,000 after purchasing an additional 819 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in shares of Tower Semiconductor by 9.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 17,159 shares of the semiconductor company's stock valued at $890,000 after purchasing an additional 1,449 shares in the last quarter. 70.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Benchmark reaffirmed a "buy" rating and set a $60.00 target price on shares of Tower Semiconductor in a research note on Thursday, May 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $60.00.

Tower Semiconductor Stock Down 0.8%

Shares of TSEM traded down $0.40 on Friday, hitting $48.54. 744,197 shares of the stock traded hands, compared to its average volume of 608,953. The company has a market capitalization of $5.38 billion, a PE ratio of 26.82 and a beta of 0.79. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.82 and a current ratio of 6.93. The business has a 50 day simple moving average of $42.26 and a 200 day simple moving average of $42.11. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $55.31.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The semiconductor company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $358.17 million for the quarter, compared to the consensus estimate 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 was up 9.4% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. As a group, equities analysts forecast that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

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.