TD Asset Management Inc Has $20.47 Million Position in Tower Semiconductor Ltd. $TSEM

TD Asset Management Inc raised its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 661.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 174,409 shares of the semiconductor company’s stock after acquiring an additional 151,499 shares during the quarter. TD Asset Management Inc’s holdings in Tower Semiconductor were worth $20,470,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Tower Semiconductor by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 4,338,080 shares of the semiconductor company’s stock valued at $507,317,000 after acquiring an additional 53,112 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Tower Semiconductor by 0.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock valued at $352,589,000 after acquiring an additional 25,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Tower Semiconductor by 214.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock valued at $259,083,000 after acquiring an additional 1,505,421 shares during the last quarter. Wellington Management Group LLP lifted its stake in Tower Semiconductor by 0.7% in the third quarter. Wellington Management Group LLP now owns 2,108,004 shares of the semiconductor company’s stock valued at $152,409,000 after acquiring an additional 15,461 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Tower Semiconductor by 12.5% in the third quarter. Invesco Ltd. now owns 1,596,815 shares of the semiconductor company’s stock valued at $115,450,000 after acquiring an additional 176,998 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $235.48 on Monday. The firm has a 50-day moving average of $226.77 and a 200-day moving average of $161.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63. The stock has a market cap of $26.48 billion, a PE ratio of 109.53 and a beta of 0.87. Tower Semiconductor Ltd. has a 52-week low of $37.48 and a 52-week high of $302.86.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TSEM shares. Wedbush raised their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Benchmark raised their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Barclays raised their target price on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Finally, Susquehanna raised their target price on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Hold” and a consensus target price of $276.75.

Tower Semiconductor Company 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.