Centiva Capital LP Takes $365,000 Position in Tower Semiconductor Ltd. $TSEM

Centiva Capital LP purchased a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,052 shares of the semiconductor company’s stock, valued at approximately $365,000.

A number of other large investors have also added to or reduced their stakes in TSEM. Balyasny Asset Management L.P. increased its stake in Tower Semiconductor by 565.6% during the 3rd quarter. Balyasny Asset Management L.P. now owns 444,800 shares of the semiconductor company’s stock worth $32,159,000 after acquiring an additional 377,975 shares during the period. Jennison Associates LLC lifted its position in shares of Tower Semiconductor by 18.8% during the 3rd quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company’s stock valued at $168,591,000 after acquiring an additional 369,600 shares during the period. Schonfeld Strategic Advisors LLC lifted its position in shares of Tower Semiconductor by 99.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 702,993 shares of the semiconductor company’s stock valued at $50,826,000 after acquiring an additional 349,759 shares during the period. Schwartz Investment Counsel Inc. acquired a new stake in shares of Tower Semiconductor during the 3rd quarter worth $18,798,000. Finally, Credit Agricole S A bought a new position in shares of Tower Semiconductor in the third quarter worth $17,617,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays boosted their price target on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Wedbush raised their target price on shares of Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Susquehanna restated a “positive” rating and issued a $180.00 target price on shares of Tower Semiconductor in a research report on Thursday, February 12th. Benchmark upped their price target on shares of Tower Semiconductor from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $156.75.

Tower Semiconductor Price Performance

Shares of TSEM stock opened at $138.47 on Tuesday. The business has a fifty day simple moving average of $127.73 and a 200 day simple moving average of $103.19. The company has a market cap of $15.57 billion, a P/E ratio of 71.75 and a beta of 0.91. The company has a quick ratio of 5.51, a current ratio of 6.48 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a twelve month low of $28.64 and a twelve month high of $149.57.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The firm had revenue of $440.21 million for 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%.The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal 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.