Victory Capital Management Inc. Buys 50,980 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Victory Capital Management Inc. boosted its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,985,110 shares of the semiconductor company's stock after buying an additional 50,980 shares during the quarter. Victory Capital Management Inc. owned 1.79% of Tower Semiconductor worth $70,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tectonic Advisors LLC grew its position in Tower Semiconductor by 29.2% during the first 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 period. Penserra Capital Management LLC grew its position in shares of Tower Semiconductor by 41.0% in the first quarter. Penserra Capital Management LLC now owns 333,231 shares of the semiconductor company's stock valued at $11,883,000 after purchasing an additional 96,925 shares during the last quarter. Hunter Perkins Capital Management LLC grew its position in shares of Tower Semiconductor by 12.1% in the first quarter. Hunter Perkins Capital Management LLC now owns 24,265 shares of the semiconductor company's stock valued at $865,000 after purchasing an additional 2,610 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Tower Semiconductor by 46.1% during the first quarter. GHP Investment Advisors Inc. now owns 18,016 shares of the semiconductor company's stock valued at $642,000 after buying an additional 5,688 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Tower Semiconductor by 47.2% during the first quarter. Oppenheimer & Co. Inc. now owns 29,300 shares of the semiconductor company's stock valued at $1,045,000 after buying an additional 9,400 shares during the period. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Trading Up 2.8%

Shares of Tower Semiconductor stock traded up $1.36 during trading on Monday, hitting $49.90. The stock had a trading volume of 1,184,542 shares, compared to its average volume of 611,256. The stock has a 50 day simple moving average of $42.26 and a 200 day simple moving average of $42.05. The company has a market capitalization of $5.53 billion, a PE ratio of 26.97 and a beta of 0.79. The company has a quick ratio of 5.82, a current ratio of 6.93 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $55.31.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its 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). Tower Semiconductor had a net margin of 13.86% and a return on equity of 7.73%. The business had revenue of $358.17 million for the quarter, compared to analyst estimates of $358.09 million. During the same quarter last year, the firm posted $0.40 earnings per share. Tower Semiconductor's revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Analysts Set New Price Targets

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

About Tower Semiconductor

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.