Fosun International Ltd Makes New $587,000 Investment in Tower Semiconductor Ltd. $TSEM

Fosun International Ltd bought a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,000 shares of the semiconductor company’s stock, valued at approximately $587,000.

A number of other hedge funds also recently added to or reduced their stakes in TSEM. Goldman Sachs Group Inc. lifted its holdings in 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 buying an additional 1,505,421 shares in the last quarter. WT Asset Management Ltd acquired a new stake in Tower Semiconductor during the 4th quarter worth approximately $78,967,000. Park West Asset Management LLC acquired a new stake in Tower Semiconductor during the 3rd quarter worth approximately $42,657,000. Balyasny Asset Management L.P. lifted its holdings in Tower Semiconductor by 565.6% during the 3rd quarter. Balyasny Asset Management L.P. now owns 444,800 shares of the semiconductor company’s stock worth $32,159,000 after buying an additional 377,975 shares in the last quarter. Finally, Norges Bank acquired a new stake in Tower Semiconductor during the 4th quarter worth approximately $43,224,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TSEM has been the topic of a number of research reports. Benchmark increased their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Susquehanna increased their target price on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Wedbush increased their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Barclays increased their target price on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $276.75.

Tower Semiconductor Price Performance

Shares of TSEM opened at $261.31 on Friday. Tower Semiconductor Ltd. has a twelve month low of $37.48 and a twelve month high of $302.86. The firm’s fifty day simple moving average is $225.84 and its 200-day simple moving average is $160.01. The firm has a market capitalization of $29.38 billion, a price-to-earnings ratio of 121.54 and a beta of 0.87. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The business had revenue of $413.63 million for the quarter, compared to analyst estimates of $410.72 million. During the same period last year, the business earned $0.35 EPS. The company’s revenue was up 15.5% on a year-over-year basis. Equities analysts forecast that Tower Semiconductor Ltd. will post 2.84 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.