12,889 Shares in Tower Semiconductor Ltd. (NASDAQ:TSEM) Acquired by Lester Murray Antman dba SimplyRich

Lester Murray Antman dba SimplyRich acquired a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,889 shares of the semiconductor company’s stock, valued at approximately $663,000.

A number of other hedge funds have also bought and sold shares of the business. Truist Financial Corp boosted its position in Tower Semiconductor by 3.8% in the second quarter. Truist Financial Corp now owns 7,432 shares of the semiconductor company’s stock worth $292,000 after purchasing an additional 273 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after buying an additional 1,376 shares during the last quarter. Signaturefd LLC grew its position in Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 431 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Tower Semiconductor during the third quarter valued at approximately $11,094,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Tower Semiconductor in the third quarter worth approximately $573,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

NASDAQ:TSEM opened at $45.78 on Wednesday. The stock has a 50-day moving average price of $50.74 and a 200 day moving average price of $45.75. The stock has a market capitalization of $5.07 billion, a P/E ratio of 24.75 and a beta of 0.88. Tower Semiconductor Ltd. has a 12-month low of $28.37 and a 12-month high of $55.31. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $370.30 million. During the same period last year, the firm posted $0.47 EPS. The company’s revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that Tower Semiconductor Ltd. will post 1.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TSEM shares. Wedbush reissued an “outperform” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday. Benchmark reissued a “buy” rating and set a $60.00 price target on shares of Tower Semiconductor in a report on Tuesday. Susquehanna raised their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Craig Hallum lifted their price objective on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, StockNews.com lowered shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Tower Semiconductor 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.