Tower Semiconductor Ltd. $TSEM Shares Acquired by Portolan Capital Management LLC

Portolan Capital Management LLC lifted its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 198.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,305 shares of the semiconductor company’s stock after purchasing an additional 217,673 shares during the period. Tower Semiconductor comprises approximately 1.3% of Portolan Capital Management LLC’s holdings, making the stock its 22nd biggest holding. Portolan Capital Management LLC owned 0.30% of Tower Semiconductor worth $23,664,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. lifted its stake in Tower Semiconductor by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 226 shares in the last quarter. Covestor Ltd purchased a new position in Tower Semiconductor during the third quarter worth $52,000. GF Fund Management CO. LTD. purchased a new position in Tower Semiconductor during the third quarter worth $83,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Tower Semiconductor in the third quarter worth $92,000. Finally, Quadrant Capital Group LLC purchased a new stake in shares of Tower Semiconductor in the third quarter valued at $125,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Tower Semiconductor Stock Performance

Shares of TSEM stock opened at $124.71 on Friday. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $149.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48. The company has a 50 day moving average price of $127.35 and a 200 day moving average price of $102.04. The firm has a market capitalization of $14.02 billion, a price-to-earnings ratio of 64.62 and a beta of 0.91.

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

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.