26,219 Shares in Tower Semiconductor Ltd. $TSEM Acquired by Gunderson Capital Management LLC

Gunderson Capital Management LLC purchased a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 26,219 shares of the semiconductor company’s stock, valued at approximately $4,601,000. Tower Semiconductor makes up 1.9% of Gunderson Capital Management LLC’s portfolio, making the stock its 27th largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Amundi increased its holdings in Tower Semiconductor by 86.8% in the first quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after buying an additional 10,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Tower Semiconductor by 4.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock worth $3,553,000 after acquiring an additional 3,954 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Tower Semiconductor by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock valued at $4,135,000 after acquiring an additional 662 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Tower Semiconductor in the 2nd quarter valued at about $438,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Tower Semiconductor during the 2nd quarter worth about $5,809,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TSEM shares. Wedbush upped their price target on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Susquehanna raised their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Finally, Benchmark upped their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $276.75.

Tower Semiconductor Trading Down 7.4%

Shares of TSEM stock opened at $249.91 on Friday. The company has a market capitalization of $28.10 billion, a P/E ratio of 116.24 and a beta of 0.87. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $249.18 and its two-hundred day moving average is $177.72. Tower Semiconductor Ltd. has a twelve month low of $42.08 and a twelve month high of $319.94.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.09. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The firm had revenue of $413.63 million during the quarter, compared to the consensus estimate of $410.72 million. During the same period last year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities analysts forecast that Tower Semiconductor Ltd. will post 2.84 EPS for the current year.

About Tower Semiconductor

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.