11,700 Shares in Tower Semiconductor Ltd. (TSEM) Purchased by Bayesian Capital Management LP
Bayesian Capital Management LP acquired a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 11,700 shares of the semiconductor company’s stock, valued at approximately $279,000.
Several other institutional investors have also bought and sold shares of TSEM. Dupont Capital Management Corp lifted its position in shares of Tower Semiconductor by 24.4% during the 2nd quarter. Dupont Capital Management Corp now owns 6,219 shares of the semiconductor company’s stock worth $148,000 after purchasing an additional 1,219 shares during the last quarter. Parametric Portfolio Associates LLC bought a new stake in Tower Semiconductor during the 1st quarter valued at approximately $217,000. JPMorgan Chase & Co. boosted its stake in Tower Semiconductor by 319.3% during the 1st quarter. JPMorgan Chase & Co. now owns 10,194 shares of the semiconductor company’s stock valued at $235,000 after purchasing an additional 7,763 shares during the period. Sei Investments Co. boosted its stake in Tower Semiconductor by 12.7% during the 1st quarter. Sei Investments Co. now owns 10,593 shares of the semiconductor company’s stock valued at $244,000 after purchasing an additional 1,190 shares during the period. Finally, Trexquant Investment LP bought a new stake in Tower Semiconductor during the 1st quarter valued at approximately $291,000. Institutional investors and hedge funds own 49.19% of the company’s stock.
Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) opened at 31.55 on Tuesday. Tower Semiconductor Ltd. has a 52-week low of $15.22 and a 52-week high of $32.33. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 16.15 and a beta of 1.00. The firm has a 50-day moving average of $28.73 and a 200 day moving average of $25.29.
Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.03. The company had revenue of $345.10 million during the quarter, compared to the consensus estimate of $344.98 million. Tower Semiconductor had a return on equity of 28.28% and a net margin of 14.53%. The firm’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 company posted $0.45 EPS. Analysts predict that Tower Semiconductor Ltd. will post $2.06 EPS for the current year.
A number of research firms have issued reports on TSEM. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 target price on shares of Tower Semiconductor in a report on Friday, June 9th. BidaskClub raised Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, Credit Suisse Group started coverage on Tower Semiconductor in a report on Tuesday, September 26th. They set an “outperform” rating and a $36.00 price target for the company. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Tower Semiconductor has an average rating of “Buy” and an average price target of $33.00.
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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