XTX Topco Ltd Buys Shares of 7,418 Tower Semiconductor Ltd. (NASDAQ:TSEM)

Key Points

• XTX Topco Ltd has recently acquired a stake in Tower Semiconductor Ltd. (NASDAQ:TSEM), purchasing 7,418 shares valued at approximately $265,000.
• A significant increase in institutional interest has been observed, with notable investors like Wells Fargo and Invesco dramatically raising their stakes in Tower Semiconductor during the fourth quarter.
• Tower Semiconductor's latest earnings report revealed an EPS of $0.41, missing estimates, but its revenue showed a year-over-year increase of 6.0% to $372.06 million.

XTX Topco Ltd bought a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,418 shares of the semiconductor company's stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TSEM. TCTC Holdings LLC increased its stake in shares of Tower Semiconductor by 117.9% in the first quarter. TCTC Holdings LLC now owns 706 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 382 shares during the last quarter. Nebula Research & Development LLC increased its holdings in Tower Semiconductor by 4.2% in the fourth quarter. Nebula Research & Development LLC now owns 9,636 shares of the semiconductor company's stock worth $496,000 after buying an additional 388 shares during the last quarter. Mariner LLC increased its holdings in Tower Semiconductor by 6.7% in the fourth quarter. Mariner LLC now owns 8,485 shares of the semiconductor company's stock worth $437,000 after buying an additional 533 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Tower Semiconductor by 5.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,577 shares of the semiconductor company's stock worth $703,000 after buying an additional 643 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Tower Semiconductor by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 94,666 shares of the semiconductor company's stock worth $4,876,000 after buying an additional 819 shares during the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.

Tower Semiconductor Trading Up 1.8%

Shares of TSEM stock traded up $0.84 during trading hours on Wednesday, reaching $46.94. The company had a trading volume of 870,059 shares, compared to its average volume of 937,248. The company has a 50 day moving average of $44.74 and a 200 day moving average of $41.63. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.57 and a quick ratio of 5.50. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 26.98 and a beta of 0.77. 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 quarterly earnings data on Monday, August 4th. The semiconductor company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). The company had revenue of $372.06 million for the quarter, compared to analyst estimates of $371.63 million. Tower Semiconductor had a return on equity of 7.37% and a net margin of 13.20%. The company's revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, equities research analysts anticipate that Tower Semiconductor Ltd. will post 1.67 EPS for the current year.

Analysts Set New Price Targets

TSEM has been the subject of several analyst reports. Benchmark reaffirmed a "buy" rating and issued a $66.00 price objective (up previously from $60.00) on shares of Tower Semiconductor in a research note on Monday, August 4th. Susquehanna set a $66.00 price objective on shares of Tower Semiconductor and gave the company a "positive" rating in a research note on Tuesday, August 5th. Finally, Wedbush set a $65.00 price objective on shares of Tower Semiconductor and gave the company an "outperform" rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.25.

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.