Tower Semiconductor Ltd. (NASDAQ:TSEM) Stake Increased by Y.D. More Investments Ltd

Y.D. More Investments Ltd increased its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 27.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 866,539 shares of the semiconductor company’s stock after acquiring an additional 187,103 shares during the period. Tower Semiconductor comprises approximately 4.0% of Y.D. More Investments Ltd’s portfolio, making the stock its 5th largest position. Y.D. More Investments Ltd owned about 0.78% of Tower Semiconductor worth $44,883,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC boosted its holdings in Tower Semiconductor by 7.5% during the 3rd quarter. Essex Investment Management Co. LLC now owns 179,579 shares of the semiconductor company’s stock valued at $7,948,000 after acquiring an additional 12,551 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Tower Semiconductor by 1.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock valued at $145,961,000 after buying an additional 50,000 shares during the period. Summit Partners Public Asset Management LLC lifted its stake in Tower Semiconductor by 1,146.9% in the third quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock worth $66,227,000 after acquiring an additional 1,376,315 shares during the period. Barclays PLC lifted its position in shares of Tower Semiconductor by 4,081.2% in the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock worth $1,060,000 after purchasing an additional 23,385 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in Tower Semiconductor in the third quarter worth about $11,094,000. Institutional investors own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

TSEM has been the subject of a number of research analyst reports. Benchmark restated a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. Susquehanna upped their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Craig Hallum lifted their price target on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research report on Monday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tower Semiconductor currently has an average rating of “Moderate Buy” and a consensus target price of $58.75.

Tower Semiconductor Stock Performance

Shares of TSEM opened at $49.74 on Wednesday. The firm has a market capitalization of $5.51 billion, a P/E ratio of 26.89 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. Tower Semiconductor Ltd. has a one year low of $28.11 and a one year high of $55.31. The business has a fifty day moving average of $50.59 and a 200 day moving average of $45.48.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The business had revenue of $370.50 million for the quarter, compared to the consensus estimate of $370.30 million. During the same period last year, the firm earned $0.47 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Tower Semiconductor Ltd. will post 1.77 EPS for the current year.

Tower Semiconductor Company 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.