2,750 Shares in Tower Semiconductor Ltd. $TSEM Bought by Ruggaard & Associates LLC

Ruggaard & Associates LLC acquired a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,750 shares of the semiconductor company’s stock, valued at approximately $323,000.

A number of other hedge funds have also bought and sold shares of TSEM. Price T Rowe Associates Inc. MD lifted its holdings in shares of Tower Semiconductor by 3,222.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,682,152 shares of the semiconductor company’s stock worth $549,779,000 after acquiring an additional 4,541,235 shares during the last quarter. Capital International Investors purchased a new position in shares of Tower Semiconductor during the 4th quarter worth about $222,530,000. Goldman Sachs Group Inc. grew 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 valued at $259,083,000 after purchasing an additional 1,505,421 shares during the last quarter. Turiya Advisors Asia Ltd bought a new position in Tower Semiconductor during the 4th quarter valued at about $172,848,000. Finally, Janus Henderson Group PLC raised its position in Tower Semiconductor by 293.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,074,717 shares of the semiconductor company’s stock worth $126,193,000 after purchasing an additional 801,820 shares during the period. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Trading Up 7.3%

NASDAQ TSEM opened at $286.74 on Friday. The stock has a market cap of $32.24 billion, a PE ratio of 133.37 and a beta of 0.87. Tower Semiconductor Ltd. has a 12 month low of $38.90 and a 12 month high of $302.86. The company’s 50-day moving average price is $240.57 and its 200-day moving average price is $171.17. 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. The company had revenue of $413.63 million during the quarter, compared to analyst estimates of $410.72 million. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. Equities research analysts forecast that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current year.

Analyst Ratings Changes

TSEM has been the subject of several analyst reports. Benchmark raised their price objective 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. Wedbush increased their price target on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Susquehanna raised their price target on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Tower Semiconductor currently has a consensus rating of “Hold” and a consensus target price of $276.75.

About Tower Semiconductor

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.