Quantinno Capital Management LP Increases Position in Tower Semiconductor Ltd. $TSEM

Quantinno Capital Management LP increased its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 25.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,222 shares of the semiconductor company’s stock after acquiring an additional 2,090 shares during the period. Quantinno Capital Management LP’s holdings in Tower Semiconductor were worth $1,794,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in Tower Semiconductor by 3,222.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,682,152 shares of the semiconductor company’s stock worth $549,779,000 after acquiring an additional 4,541,235 shares during the period. Vanguard Group Inc. increased its position in shares of Tower Semiconductor by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,338,080 shares of the semiconductor company’s stock valued at $507,317,000 after purchasing an additional 53,112 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Tower Semiconductor by 0.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock valued at $352,589,000 after purchasing an additional 25,000 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Tower Semiconductor by 214.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock worth $259,083,000 after purchasing an additional 1,505,421 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Tower Semiconductor by 0.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,108,004 shares of the semiconductor company’s stock worth $152,409,000 after purchasing an additional 15,461 shares during the period. 70.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Susquehanna increased their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research report on Thursday, May 14th. Bank of America began coverage on shares of Tower Semiconductor in a research report on Friday, August 7th. They issued a “buy” rating and a $367.00 price objective on the stock. UBS Group reiterated a “buy” rating on shares of Tower Semiconductor in a research note on Wednesday, July 15th. National Bank Financial raised shares of Tower Semiconductor to a “buy” rating in a research report on Friday. Finally, Wedbush increased their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $294.80.

Tower Semiconductor Stock Performance

NASDAQ:TSEM opened at $249.58 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.91 and a quick ratio of 4.31. The business has a fifty day simple moving average of $244.33 and a two-hundred day simple moving average of $203.03. Tower Semiconductor Ltd. has a 1 year low of $45.51 and a 1 year high of $319.94. The company has a market capitalization of $28.07 billion, a P/E ratio of 98.65 and a beta of 0.90.

Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Wednesday, August 5th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.12. Tower Semiconductor had a return on equity of 9.83% and a net margin of 16.94%.The firm had revenue of $460.08 million for the quarter, compared to analyst estimates of $454.68 million. During the same period in the previous year, the company posted $0.41 earnings per share. The business’s revenue was up 23.7% on a year-over-year basis. On average, analysts expect that Tower Semiconductor Ltd. will post 3.04 earnings per share 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.