King Luther Capital Management Corp Acquires Shares of 116,521 Tower Semiconductor Ltd. (NASDAQ:TSEM)

King Luther Capital Management Corp bought a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the fourth quarter, HoldingsChannel reports. The firm bought 116,521 shares of the semiconductor company’s stock, valued at approximately $3,556,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSEM. EverSource Wealth Advisors LLC increased its position in Tower Semiconductor by 336.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 1,635 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Tower Semiconductor during the third quarter valued at $42,314,000. Jump Financial LLC raised its position in shares of Tower Semiconductor by 128.1% in the 3rd quarter. Jump Financial LLC now owns 155,298 shares of the semiconductor company’s stock worth $3,814,000 after purchasing an additional 87,214 shares during the last quarter. Barclays PLC boosted its stake in Tower Semiconductor by 473.0% in the 3rd quarter. Barclays PLC now owns 213,860 shares of the semiconductor company’s stock worth $5,254,000 after purchasing an additional 176,538 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in Tower Semiconductor by 290.9% in the 3rd quarter. Quantbot Technologies LP now owns 24,958 shares of the semiconductor company’s stock worth $613,000 after purchasing an additional 18,574 shares in the last quarter. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Performance

TSEM stock traded down $0.43 during trading on Thursday, reaching $37.19. The stock had a trading volume of 57,778 shares, compared to its average volume of 601,925. The stock’s 50 day moving average is $33.49 and its two-hundred day moving average is $30.99. The firm has a market cap of $4.06 billion, a PE ratio of 8.53 and a beta of 0.93. Tower Semiconductor Ltd. has a 52 week low of $21.43 and a 52 week high of $41.67. The company has a current ratio of 5.38, a quick ratio of 4.46 and a debt-to-equity ratio of 0.06.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. Tower Semiconductor had a net margin of 35.27% and a return on equity of 8.78%. The company had revenue of $327.24 million for the quarter, compared to the consensus estimate of $325.00 million. As a group, equities analysts anticipate that Tower Semiconductor Ltd. will post 1.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TSEM shares. StockNews.com upgraded shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Monday, March 25th. TheStreet upgraded Tower Semiconductor from a “c+” rating to a “b-” rating in a research note on Friday, March 8th. Craig Hallum boosted their price target on Tower Semiconductor from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of Tower Semiconductor in a report on Friday, May 10th. Finally, Susquehanna upgraded shares of Tower Semiconductor from a “neutral” rating to a “positive” rating and upped their target price for the company from $36.00 to $55.00 in a research note on Friday, May 10th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $46.33.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.