Ruggaard & Associates LLC Takes $323,000 Position in Tower Semiconductor Ltd. $TSEM

Ruggaard & Associates LLC bought a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,750 shares of the semiconductor company’s stock, valued at approximately $323,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. USA Financial Formulas purchased a new position in Tower Semiconductor during the fourth quarter valued at $27,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Tower Semiconductor during the 3rd quarter valued at about $48,000. Kestra Advisory Services LLC purchased a new position in shares of Tower Semiconductor during the fourth quarter valued at about $52,000. Finally, SBI Securities Co. Ltd. grew its position in shares of Tower Semiconductor by 344.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 403 shares in the last quarter. Institutional investors own 70.51% of the company’s stock.

Analyst Ratings Changes

TSEM has been the topic of a number of research analyst reports. Wedbush boosted their target price on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Benchmark raised their price target on Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Susquehanna lifted their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $276.75.

Tower Semiconductor Stock Performance

Tower Semiconductor stock opened at $286.74 on Friday. The company’s 50-day moving average price is $240.57 and its 200-day moving average price is $171.17. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. The company has a market cap of $32.24 billion, a PE ratio of 133.37 and a beta of 0.87. Tower Semiconductor Ltd. has a twelve month low of $38.90 and a twelve month high of $302.86.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The firm had revenue of $413.63 million during the quarter, compared to the consensus estimate of $410.72 million. During the same quarter last year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities research analysts forecast that Tower Semiconductor Ltd. will post 2.84 EPS for the current fiscal year.

About Tower Semiconductor

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.