Goldman Sachs Group Inc. Has $259.08 Million Stake in Tower Semiconductor Ltd. $TSEM

Goldman Sachs Group Inc. raised its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 214.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,206,467 shares of the semiconductor company’s stock after acquiring an additional 1,505,421 shares during the period. Goldman Sachs Group Inc.’s holdings in Tower Semiconductor were worth $259,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Tower Semiconductor in the fourth quarter valued at about $619,000. Norges Bank bought a new stake in shares of Tower Semiconductor in the fourth quarter valued at about $43,224,000. Andar Capital Management HK Ltd lifted its holdings in shares of Tower Semiconductor by 114.9% in the fourth quarter. Andar Capital Management HK Ltd now owns 90,250 shares of the semiconductor company’s stock valued at $10,597,000 after purchasing an additional 48,250 shares in the last quarter. Legato Capital Management LLC lifted its holdings in shares of Tower Semiconductor by 10.0% in the fourth quarter. Legato Capital Management LLC now owns 27,318 shares of the semiconductor company’s stock valued at $3,208,000 after purchasing an additional 2,489 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Tower Semiconductor by 1,420.6% in the fourth quarter. Global Retirement Partners LLC now owns 2,068 shares of the semiconductor company’s stock valued at $243,000 after purchasing an additional 1,932 shares in the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Tower Semiconductor Stock Performance

TSEM opened at $235.48 on Friday. Tower Semiconductor Ltd. has a 52-week low of $37.48 and a 52-week high of $302.86. The firm has a market capitalization of $26.48 billion, a PE ratio of 109.53 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63. The business’s 50-day simple moving average is $226.77 and its 200 day simple moving average is $160.54.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results 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. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The business had revenue of $413.63 million for the quarter, compared to analyst estimates of $410.72 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. Tower Semiconductor’s revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts expect that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current fiscal 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.