Harvest Fund Management Co. Ltd Increases Position in Tower Semiconductor Ltd. $TSEM

Harvest Fund Management Co. Ltd raised its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 102.8% during the fourth quarter, HoldingsChannel reports. The firm owned 18,866 shares of the semiconductor company’s stock after buying an additional 9,563 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Tower Semiconductor were worth $2,215,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TSEM. Amundi increased its position in shares of Tower Semiconductor by 86.8% in the 1st quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after purchasing an additional 10,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Tower Semiconductor by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock valued at $3,553,000 after purchasing an additional 3,954 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Tower Semiconductor by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock valued at $4,135,000 after purchasing an additional 662 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Tower Semiconductor in the 2nd quarter valued at approximately $438,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Tower Semiconductor in the 2nd quarter valued at approximately $5,809,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Tower Semiconductor Stock Performance

Shares of TSEM stock opened at $235.48 on Friday. The stock’s 50-day moving average is $226.77 and its two-hundred day moving average is $160.54. The firm has a market cap of $26.48 billion, a price-to-earnings ratio of 109.53 and a beta of 0.87. Tower Semiconductor Ltd. has a 1 year low of $37.48 and a 1 year high of $302.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63.

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