Tower Semiconductor Ltd. $TSEM Shares Bought by Y.D. More Investments Ltd

Y.D. More Investments Ltd lifted its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 7.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 965,445 shares of the semiconductor company’s stock after buying an additional 65,540 shares during the period. Tower Semiconductor accounts for approximately 3.9% of Y.D. More Investments Ltd’s holdings, making the stock its 8th biggest position. Y.D. More Investments Ltd owned 0.87% of Tower Semiconductor worth $68,755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TSEM. Jennison Associates LLC lifted its holdings in shares of Tower Semiconductor by 18.8% in the 3rd quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company’s stock worth $168,591,000 after purchasing an additional 369,600 shares during the last quarter. Schwartz Investment Counsel Inc. acquired a new position in shares of Tower Semiconductor during the third quarter valued at $18,798,000. Marshall Wace LLP grew its position in shares of Tower Semiconductor by 2,402.5% during the second quarter. Marshall Wace LLP now owns 239,994 shares of the semiconductor company’s stock worth $10,404,000 after acquiring an additional 230,404 shares during the last quarter. Penserra Capital Management LLC grew its position in shares of Tower Semiconductor by 43.4% during the third quarter. Penserra Capital Management LLC now owns 671,657 shares of the semiconductor company’s stock worth $48,560,000 after acquiring an additional 203,176 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Tower Semiconductor by 7.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,977,806 shares of the semiconductor company’s stock worth $215,295,000 after acquiring an additional 200,000 shares during the period. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Tower Semiconductor Trading Up 3.2%

NASDAQ:TSEM traded up $3.97 during trading hours on Friday, hitting $129.83. 156,680 shares of the stock traded hands, compared to its average volume of 2,047,262. The firm has a 50 day moving average price of $126.04 and a 200 day moving average price of $93.86. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.48 and a quick ratio of 5.51. Tower Semiconductor Ltd. has a fifty-two week low of $28.64 and a fifty-two week high of $149.57.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data 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. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.The firm had revenue of $440.21 million during the quarter, compared to analysts’ expectations of $439.81 million. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, equities analysts expect 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.