Tower Semiconductor Ltd. $TSEM Holdings Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 75.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,149 shares of the semiconductor company’s stock after purchasing an additional 11,682 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Tower Semiconductor were worth $3,177,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSEM. USA Financial Formulas purchased a new stake in Tower Semiconductor during the fourth quarter valued at about $27,000. CIBC Private Wealth Group LLC increased its position in shares of Tower Semiconductor by 254.2% in the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 300 shares in the last quarter. Westside Investment Management Inc. raised its holdings in shares of Tower Semiconductor by 100.0% during the third quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 226 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Tower Semiconductor during the third quarter valued at approximately $48,000. Finally, Covestor Ltd purchased a new stake in shares of Tower Semiconductor in the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

TSEM stock opened at $218.01 on Monday. The firm has a 50 day simple moving average of $169.23 and a 200 day simple moving average of $132.06. Tower Semiconductor Ltd. has a 52 week low of $35.42 and a 52 week high of $228.73. The stock has a market cap of $24.52 billion, a P/E ratio of 112.96 and a beta of 0.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The firm had revenue of $440.21 million for the quarter, compared to analyst estimates of $439.81 million. During the same quarter in the prior year, the business earned $0.49 EPS. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. Research analysts anticipate that Tower Semiconductor Ltd. will post 2.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSEM has been the subject of a number of recent analyst reports. Barclays raised their price objective 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. Benchmark increased their target price on Tower Semiconductor from $165.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Wedbush raised their target price on Tower Semiconductor from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $173.00.

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.