Gunderson Capital Management LLC Acquires New Position in Tower Semiconductor Ltd. $TSEM

Gunderson Capital Management LLC acquired a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 26,219 shares of the semiconductor company’s stock, valued at approximately $4,601,000. Tower Semiconductor makes up approximately 1.9% of Gunderson Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSEM. Covestor Ltd lifted its holdings in shares of Tower Semiconductor by 10.8% in the 4th quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 77 shares during the period. Mackenzie Financial Corp grew its holdings in Tower Semiconductor by 2.6% during the third quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock worth $359,000 after acquiring an additional 127 shares during the period. Evergreen Capital Management LLC grew its holdings in Tower Semiconductor by 2.6% during the fourth quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock worth $601,000 after acquiring an additional 131 shares during the period. Mariner LLC raised its position in Tower Semiconductor by 2.4% in the third quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock worth $637,000 after acquiring an additional 207 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Tower Semiconductor by 2.9% in the fourth quarter. Wells Fargo & Company MN now owns 7,848 shares of the semiconductor company’s stock worth $922,000 after acquiring an additional 218 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TSEM. Wedbush raised their target price on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Benchmark increased their price target on shares of Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Susquehanna raised their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $276.75.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $249.91 on Friday. Tower Semiconductor Ltd. has a 1-year low of $42.08 and a 1-year high of $319.94. The company has a market capitalization of $28.10 billion, a P/E ratio of 116.24 and a beta of 0.87. The business has a 50 day moving average price of $249.18 and a 200 day moving average price of $177.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $413.63 million for the quarter, compared to the consensus estimate of $410.72 million. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.Tower Semiconductor’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. Sell-side analysts expect 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.