Tower Semiconductor Ltd. $TSEM Stake Lifted by Yahav Achim Ve Achayot Provident Funds Management Co Ltd.

Yahav Achim Ve Achayot Provident Funds Management Co Ltd. raised its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 132.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 27,858 shares of the semiconductor company’s stock after purchasing an additional 15,858 shares during the period. Tower Semiconductor accounts for approximately 7.5% of Yahav Achim Ve Achayot Provident Funds Management Co Ltd.’s portfolio, making the stock its 4th biggest holding. Yahav Achim Ve Achayot Provident Funds Management Co Ltd.’s holdings in Tower Semiconductor were worth $3,271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd lifted its holdings in Tower Semiconductor by 4.6% in the 4th quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company’s stock valued at $118,084,000 after purchasing an additional 44,401 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Tower Semiconductor by 0.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock worth $352,589,000 after acquiring an additional 25,000 shares during the period. Argent Trust Co purchased a new position in shares of Tower Semiconductor during the 3rd quarter worth $287,000. Granahan Investment Management LLC raised its holdings in shares of Tower Semiconductor by 42.6% during the 3rd quarter. Granahan Investment Management LLC now owns 178,188 shares of the semiconductor company’s stock worth $12,883,000 after acquiring an additional 53,208 shares during the period. Finally, Rockingstone Advisors LLC acquired a new stake in Tower Semiconductor during the fourth quarter worth about $5,296,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Up 10.6%

Shares of NASDAQ:TSEM opened at $258.34 on Friday. The business has a 50-day moving average price of $232.40 and a 200 day moving average price of $165.09. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $29.05 billion, a price-to-earnings ratio of 120.16 and a beta of 0.87. Tower Semiconductor Ltd. has a 12-month low of $37.48 and a 12-month high of $302.86.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The firm had revenue of $413.63 million during 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%.The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the company earned $0.35 EPS. Sell-side analysts expect that Tower Semiconductor Ltd. will post 2.84 EPS for the current year.

Wall Street Analyst Weigh In

TSEM has been the subject of several recent analyst reports. Susquehanna raised their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research report on Thursday, May 14th. Wedbush increased their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Barclays increased their price target 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, 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 research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Hold” and an average target price of $276.75.

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.