WINTON GROUP Ltd Invests $9.59 Million in Tower Semiconductor Ltd. $TSEM

Key Points

• WINTON GROUP Ltd. purchased 36,800 Tower Semiconductor shares during the second quarter, valued at approximately $9.59 million. Institutional investors and hedge funds collectively own 70.51% of the company.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $290.67; Bank of America set a $367 target and Barclays upgraded the stock to “strong buy.”
• Tower Semiconductor reported quarterly EPS of $0.88, beating estimates of $0.76, while revenue rose 23.7% year over year to $460.08 million. Shares opened at $216.57, down 1.5%, and the CEO recently sold shares worth approximately $25.9 million.

WINTON GROUP Ltd purchased a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund purchased 36,800 shares of the semiconductor company's stock, valued at approximately $9,592,000.

Several other institutional investors and hedge funds have also made changes to their positions in TSEM. Hanson & Doremus Investment Management bought a new stake in Tower Semiconductor during the first quarter valued at $53,000. TD Waterhouse Canada Inc. grew its position in shares of Tower Semiconductor by 230.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 334 shares of the semiconductor company's stock valued at $82,000 after buying an additional 233 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in Tower Semiconductor by 254.2% during the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 300 shares during the period. Kestra Advisory Services LLC acquired a new stake in Tower Semiconductor during the fourth quarter worth about $52,000. Finally, SBI Securities Co. Ltd. lifted its holdings in Tower Semiconductor by 344.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company's stock worth $61,000 after acquiring an additional 403 shares during the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Bank of America assumed coverage on Tower Semiconductor in a report on Friday, August 7th. They set a "buy" rating and a $367.00 target price for the company. National Bank Financial raised Tower Semiconductor to a "buy" rating in a report on Friday, August 7th. UBS Group restated a "buy" rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Barclays upgraded Tower Semiconductor from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 20th. Finally, Benchmark reissued a "buy" rating on shares of Tower Semiconductor in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $290.67.

Tower Semiconductor Trading Down 1.5%

Shares of TSEM stock opened at $216.57 on Thursday. The stock has a 50-day simple moving average of $228.03 and a 200 day simple moving average of $216.74. Tower Semiconductor Ltd. has a fifty-two week low of $64.59 and a fifty-two week high of $319.94. The stock has a market capitalization of $24.35 billion, a P/E ratio of 85.60 and a beta of 0.88. The company has a quick ratio of 4.31, a current ratio of 4.91 and a debt-to-equity ratio of 0.04.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The semiconductor company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.76 by $0.12. Tower Semiconductor had a net margin of 16.94% and a return on equity of 9.83%. The firm had revenue of $460.08 million for the quarter, compared to analysts' expectations of $454.68 million. During the same period in the previous year, the business earned $0.41 earnings per share. Tower Semiconductor's revenue for the quarter was up 23.7% compared to the same quarter last year. On average, sell-side analysts expect that Tower Semiconductor Ltd. will post 3.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Russell Ellwanger sold 104,226 shares of Tower Semiconductor stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $248.34, for a total value of $25,883,484.84. Following the transaction, the chief executive officer directly owned 526,788 shares in the company, valued at $130,822,531.92. The trade was a 16.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.00% of the company's stock.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd. NASDAQ: TSEM is a specialty semiconductor foundry that manufactures integrated circuits for fabless chip companies, integrated device manufacturers and original equipment manufacturers. The company focuses on analog and mixed-signal technologies rather than high-volume digital logic, providing process development, wafer manufacturing, design enablement and other foundry services.

Its technology portfolio includes radio-frequency and high-performance analog circuits, power management, CMOS image sensors, medical and industrial sensors, silicon photonics, microelectromechanical systems (MEMS), and automotive and industrial semiconductor solutions.

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