Tower Semiconductor Ltd. $TSEM Shares Acquired by Y.D. More Investments Ltd

Y.D. More Investments Ltd boosted its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 7.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 965,445 shares of the semiconductor company’s stock after buying an additional 65,540 shares during the quarter. Tower Semiconductor makes up about 3.9% of Y.D. More Investments Ltd’s holdings, making the stock its 8th biggest position. Y.D. More Investments Ltd’s holdings in Tower Semiconductor were worth $68,755,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Senvest Management LLC boosted its holdings in Tower Semiconductor by 0.9% during the second quarter. Senvest Management LLC now owns 8,128,614 shares of the semiconductor company’s stock valued at $352,375,000 after acquiring an additional 69,207 shares during the period. Vanguard Group Inc. boosted its stake in Tower Semiconductor by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,284,968 shares of the semiconductor company’s stock valued at $305,630,000 after purchasing an additional 78,697 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Tower Semiconductor by 7.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,977,806 shares of the semiconductor company’s stock valued at $215,295,000 after buying an additional 200,000 shares during the last quarter. Jennison Associates LLC increased its position in Tower Semiconductor by 18.8% in the 3rd quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company’s stock worth $168,591,000 after buying an additional 369,600 shares during the period. Finally, Meitav Investment House Ltd. increased its position in Tower Semiconductor by 1.2% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,268,503 shares of the semiconductor company’s stock worth $162,870,000 after buying an additional 25,989 shares during the period. Institutional investors and hedge funds own 70.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wedbush increased their price objective on Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Benchmark increased their price target on shares of Tower Semiconductor from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Weiss Ratings restated a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Barclays increased their target price on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Finally, Susquehanna restated a “positive” rating and set a $180.00 price target on shares of Tower Semiconductor in a research note on Thursday, February 12th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $156.75.

Tower Semiconductor Trading Up 3.2%

TSEM traded up $3.97 during midday trading on Friday, reaching $129.83. 156,680 shares of the company’s stock were exchanged, compared to its average volume of 2,047,262. The company has a quick ratio of 5.51, a current ratio of 6.48 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $126.04 and a two-hundred day simple moving average of $93.86. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $149.57.

Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The business had revenue of $440.21 million during the quarter, compared to analysts’ expectations of $439.81 million. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.Tower Semiconductor’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. Research analysts predict that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Tower Semiconductor Company 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.