Capstone Capital Management Ltd Acquires 3,372 Shares of Tower Semiconductor Ltd. $TSEM

Capstone Capital Management Ltd increased its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 47.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,509 shares of the semiconductor company’s stock after purchasing an additional 3,372 shares during the period. Tower Semiconductor accounts for about 0.9% of Capstone Capital Management Ltd’s holdings, making the stock its 18th biggest position. Capstone Capital Management Ltd’s holdings in Tower Semiconductor were worth $2,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in shares of Tower Semiconductor by 34.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 158,901 shares of the semiconductor company’s stock worth $37,115,000 after purchasing an additional 40,495 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Tower Semiconductor by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 1,710 shares of the semiconductor company’s stock worth $389,000 after purchasing an additional 305 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Tower Semiconductor by 20.8% in the third quarter. Versant Capital Management Inc now owns 319 shares of the semiconductor company’s stock valued at $73,000 after purchasing an additional 55 shares during the period. QRG Capital Management Inc. grew its position in shares of Tower Semiconductor by 4.1% in the second quarter. QRG Capital Management Inc. now owns 1,295 shares of the semiconductor company’s stock valued at $338,000 after purchasing an additional 51 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in Tower Semiconductor in the second quarter valued at $9,592,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tower Semiconductor

In other news, Director Yoav Chelouche sold 232 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $215.06, for a total transaction of $49,893.92. Following the transaction, the director directly owned 33,734 shares of the company’s stock, valued at approximately $7,254,834.04. The trade was a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Russell Ellwanger sold 104,226 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $248.34, for a total transaction of $25,883,484.84. Following the completion of the transaction, the chief executive officer owned 526,788 shares of the company’s stock, valued at $130,822,531.92. This trade represents a 16.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 181,767 shares of company stock valued at $45,610,065 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Barclays began coverage on Tower Semiconductor in a report on Friday, September 18th. They issued an “overweight” rating and a $310.00 price target for the company. Weiss Ratings lowered shares of Tower Semiconductor from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 18th. Benchmark reissued a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, August 5th. Stifel Nicolaus assumed coverage on shares of Tower Semiconductor in a research report on Tuesday, September 1st. They issued a “buy” rating and a $270.00 target price on the stock. Finally, UBS Group restated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $316.00.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM opened at $183.78 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.91 and a quick ratio of 4.31. Tower Semiconductor Ltd. has a 1-year low of $71.64 and a 1-year high of $319.94. The company has a market capitalization of $20.67 billion, a price-to-earnings ratio of 79.17 and a beta of 0.89. The business has a 50-day moving average of $222.95 and a 200-day moving average of $232.89.

Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Tuesday, August 4th. The semiconductor company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.76 by $0.12. The business had revenue of $460.08 million for the quarter, compared to the consensus estimate of $454.68 million. Tower Semiconductor had a return on equity of 9.83% and a net margin of 16.94%. The company’s revenue was up 23.7% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. On average, equities analysts anticipate that Tower Semiconductor Ltd. will post 3.56 EPS for the current fiscal year.

About Tower Semiconductor

Tower Semiconductor Ltd. is an Israeli specialty semiconductor foundry that manufactures integrated circuits for fabless semiconductor companies, integrated device manufacturers and system companies. The company provides process technologies and production services rather than selling branded end-user electronics.

Its offerings include analog and mixed-signal technologies, radio-frequency and high-voltage circuits, power management solutions, image sensors, and specialty memory products.