Quantinno Capital Management LP Raises Stake in Tower Semiconductor Ltd. $TSEM

Quantinno Capital Management LP boosted its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 25.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,222 shares of the semiconductor company’s stock after purchasing an additional 2,090 shares during the quarter. Quantinno Capital Management LP’s holdings in Tower Semiconductor were worth $1,794,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. grew its position in Tower Semiconductor by 0.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock worth $352,589,000 after buying an additional 25,000 shares in the last quarter. Rockingstone Advisors LLC purchased a new stake in shares of Tower Semiconductor in the 4th quarter valued at about $5,296,000. Swiss National Bank raised its holdings in shares of Tower Semiconductor by 86.0% in the 1st quarter. Swiss National Bank now owns 414,850 shares of the semiconductor company’s stock valued at $70,625,000 after acquiring an additional 191,839 shares in the last quarter. GF Fund Management CO. LTD. boosted its position in shares of Tower Semiconductor by 26,835.5% during the 4th quarter. GF Fund Management CO. LTD. now owns 308,412 shares of the semiconductor company’s stock valued at $36,214,000 after acquiring an additional 307,267 shares during the last quarter. Finally, WT Asset Management Ltd bought a new stake in shares of Tower Semiconductor during the 4th quarter valued at about $78,967,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TSEM. Bank of America began coverage on shares of Tower Semiconductor in a research report on Friday, August 7th. They issued a “buy” rating and a $367.00 price objective on the stock. UBS Group reiterated a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. National Bank Financial raised shares of Tower Semiconductor to a “buy” rating in a research note on Friday. Benchmark reissued a “buy” rating on shares of Tower Semiconductor in a research note on Wednesday, August 5th. Finally, Wedbush increased their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tower Semiconductor has an average rating of “Moderate Buy” and a consensus price target of $294.80.

Tower Semiconductor Trading Down 1.2%

NASDAQ TSEM opened at $249.58 on Wednesday. The stock’s 50-day simple moving average is $244.33 and its two-hundred day simple moving average is $203.03. Tower Semiconductor Ltd. has a twelve month low of $45.51 and a twelve month high of $319.94. The company has a quick ratio of 4.31, a current ratio of 4.91 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $28.07 billion, a price-to-earnings ratio of 98.65 and a beta of 0.90.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. Tower Semiconductor had a return on equity of 9.83% and a net margin of 16.94%.The firm had revenue of $460.08 million during the quarter, compared to analysts’ expectations of $454.68 million. During the same period in the prior year, the business earned $0.41 EPS. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. Research analysts forecast that Tower Semiconductor Ltd. will post 3.04 EPS for the current fiscal year.

Tower Semiconductor Profile

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.