Canada Pension Plan Investment Board acquired a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 47,215 shares of the semiconductor company’s stock, valued at approximately $1,139,000. Canada Pension Plan Investment Board owned about 0.05% of Tower Semiconductor as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Tower Semiconductor by 71.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 136,547 shares of the semiconductor company’s stock valued at $2,598,000 after buying an additional 57,011 shares during the period. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of Tower Semiconductor during the first quarter valued at about $115,000. American Century Companies Inc. purchased a new position in shares of Tower Semiconductor during the first quarter valued at about $986,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Tower Semiconductor by 53.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,202 shares of the semiconductor company’s stock valued at $281,000 after buying an additional 4,270 shares during the period. Finally, Swiss National Bank boosted its position in shares of Tower Semiconductor by 3.2% in the first quarter. Swiss National Bank now owns 137,766 shares of the semiconductor company’s stock valued at $3,177,000 after buying an additional 4,270 shares during the period. Hedge funds and other institutional investors own 49.35% of the company’s stock.

Tower Semiconductor Ltd. (NASDAQ TSEM) opened at 28.06 on Tuesday. The company’s 50-day moving average price is $26.03 and its 200 day moving average price is $24.01. The company has a market capitalization of $2.75 billion, a PE ratio of 14.37 and a beta of 1.00. Tower Semiconductor Ltd. has a 52 week low of $14.83 and a 52 week high of $28.39.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.03. Tower Semiconductor had a return on equity of 28.28% and a net margin of 14.53%. The firm had revenue of $345.10 million for the quarter, compared to analyst estimates of $344.98 million. During the same quarter last year, the company earned $0.45 EPS. The company’s revenue was up 13.1% on a year-over-year basis. On average, equities research analysts anticipate that Tower Semiconductor Ltd. will post $2.05 EPS for the current year.

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TSEM has been the topic of several research analyst reports. Needham & Company LLC restated a “strong-buy” rating and set a $35.00 price objective (up from $30.00) on shares of Tower Semiconductor in a research note on Tuesday, May 9th. TheStreet upgraded Tower Semiconductor from a “c” rating to a “b-” rating in a research note on Monday, May 8th. ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded Tower Semiconductor from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $31.50.

About Tower Semiconductor

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.

Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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