Vanguard Group Inc. Has $305.63 Million Stock Position in Tower Semiconductor Ltd. $TSEM

Vanguard Group Inc. boosted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,284,968 shares of the semiconductor company’s stock after buying an additional 78,697 shares during the quarter. Vanguard Group Inc.’s holdings in Tower Semiconductor were worth $305,630,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Westside Investment Management Inc. raised its stake in shares of Tower Semiconductor by 100.0% during the third quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock worth $34,000 after buying an additional 226 shares during the last quarter. Covestor Ltd acquired a new stake in Tower Semiconductor during the 3rd quarter worth $52,000. GF Fund Management CO. LTD. bought a new stake in shares of Tower Semiconductor during the 3rd quarter valued at $83,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Tower Semiconductor in the 3rd quarter worth $92,000. Finally, Spinnaker Investment Group LLC bought a new position in Tower Semiconductor during the third quarter worth about $202,000. Institutional investors own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Susquehanna reiterated a “positive” rating and set a $180.00 target price on shares of Tower Semiconductor in a report on Thursday, February 12th. Wedbush lifted their price objective on Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Benchmark boosted their price objective on Tower Semiconductor from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Weiss Ratings restated a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Finally, Barclays upped their price target on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Tower Semiconductor presently has a consensus rating of “Hold” and a consensus target price of $156.75.

Tower Semiconductor Trading Up 0.8%

Shares of TSEM opened at $124.87 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.48 and a quick ratio of 5.51. The firm has a 50-day moving average of $127.16 and a 200-day moving average of $97.08. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $149.57.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The business had revenue of $440.21 million during the quarter, compared to analysts’ expectations of $439.81 million. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.Tower Semiconductor’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company posted $0.49 earnings per share. Sell-side analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

Tower Semiconductor Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.