NASDAQ:TSEM - Free Report ) by 78.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,515 shares of the semiconductor company's stock after selling 70,965 shares during the period. Altshuler Shaham Ltd's holdings in Tower Semiconductor were worth $596,000 at the end of the most recent reporting period.
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Other hedge funds have also added to or reduced their stakes in the company. Graham Capital Management L.P. lifted its stake in Tower Semiconductor by 487.1% in the third quarter. Graham Capital Management L.P. now owns 39,550 shares of the semiconductor company's stock worth $971,000 after purchasing an additional 32,813 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Tower Semiconductor by 5,887.4% during the third quarter. Wellington Management Group LLP now owns 499,405 shares of the semiconductor company's stock valued at $12,265,000 after acquiring an additional 491,064 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Tower Semiconductor by 40.2% during the fourth quarter. Jennison Associates LLC now owns 2,069,673 shares of the semiconductor company's stock valued at $63,166,000 after acquiring an additional 593,003 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Tower Semiconductor by 2.1% during the third quarter. Vanguard Group Inc. now owns 3,669,868 shares of the semiconductor company's stock valued at $90,132,000 after acquiring an additional 74,264 shares during the last quarter. Finally, Trexquant Investment LP raised its stake in shares of Tower Semiconductor by 289.5% during the third quarter. Trexquant Investment LP now owns 139,629 shares of the semiconductor company's stock valued at $3,429,000 after acquiring an additional 103,777 shares during the last quarter. 70.51% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth Several brokerages have recently commented on TSEM. TheStreet raised shares of Tower Semiconductor from a "c+" rating to a "b-" rating in a research note on Friday, March 8th. Susquehanna began coverage on shares of Tower Semiconductor in a research note on Thursday, February 29th. They issued a "neutral" rating and a $36.00 price target for the company. Finally, StockNews.com raised shares of Tower Semiconductor from a "hold" rating to a "buy" rating in a research note on Monday, March 25th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.33.
View Our Latest Research Report on Tower Semiconductor
Tower Semiconductor Stock Up 6.4 % TSEM traded up $2.19 during midday trading on Thursday, reaching $36.44. The company's stock had a trading volume of 917,473 shares, compared to its average volume of 629,066. The stock's 50-day moving average is $32.62 and its 200-day moving average is $30.04. Tower Semiconductor Ltd. has a 1 year low of $21.43 and a 1 year high of $42.11. The company has a current ratio of 6.17, a quick ratio of 5.15 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 7.84 and a beta of 0.93.
Tower Semiconductor (NASDAQ:TSEM - Get Free Report ) last posted its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. Tower Semiconductor had a net margin of 36.44% and a return on equity of 9.33%. The firm had revenue of $351.71 million for the quarter, compared to analysts' expectations of $350.00 million. As a group, research analysts expect that Tower Semiconductor Ltd. will post 1.52 EPS for the current year.
Tower Semiconductor Company Profile (
Free Report )
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.
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