Tower Semiconductor Ltd. (TSEM) Shares Bought by Trigran Investments Inc.
Trigran Investments Inc. increased its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 12.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,506 shares of the semiconductor company’s stock after buying an additional 18,300 shares during the period. Tower Semiconductor accounts for about 1.0% of Trigran Investments Inc.’s investment portfolio, making the stock its 18th biggest position. Trigran Investments Inc. owned about 0.17% of Tower Semiconductor worth $3,876,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of TSEM. Wellington Management Group LLP lifted its position in shares of Tower Semiconductor by 34.8% in the first quarter. Wellington Management Group LLP now owns 4,450,943 shares of the semiconductor company’s stock worth $102,595,000 after buying an additional 1,148,547 shares in the last quarter. Bank Hapoalim BM lifted its position in shares of Tower Semiconductor by 3,115.2% in the first quarter. Bank Hapoalim BM now owns 949,687 shares of the semiconductor company’s stock worth $21,983,000 after buying an additional 920,150 shares in the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management purchased a new stake in shares of Tower Semiconductor in the second quarter worth about $11,739,000. State of Wisconsin Investment Board purchased a new stake in shares of Tower Semiconductor in the first quarter worth about $7,722,000. Finally, Renaissance Technologies LLC lifted its position in shares of Tower Semiconductor by 27.6% in the first quarter. Renaissance Technologies LLC now owns 1,145,186 shares of the semiconductor company’s stock worth $26,397,000 after buying an additional 247,500 shares in the last quarter. Institutional investors own 49.38% of the company’s stock.
Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) traded down 1.52% during midday trading on Friday, reaching $28.60. The company’s stock had a trading volume of 481,537 shares. Tower Semiconductor Ltd. has a one year low of $14.83 and a one year high of $30.44. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 14.64 and a beta of 1.02. The stock’s 50 day moving average price is $26.87 and its 200 day moving average price is $24.46.
Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.03. The business had revenue of $345.10 million for the quarter, compared to analysts’ expectations of $344.98 million. Tower Semiconductor had a return on equity of 28.28% and a net margin of 14.53%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 EPS. Analysts predict that Tower Semiconductor Ltd. will post $2.05 earnings per share for the current year.
A number of equities research analysts recently commented on TSEM shares. ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 target price on shares of Tower Semiconductor in a research report on Friday, June 9th. Finally, BidaskClub upgraded Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Tower Semiconductor currently has a consensus rating of “Buy” and an average target price of $31.50.
Tower Semiconductor Profile
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.
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