Capital International Investors Takes Position in Tower Semiconductor Ltd. $TSEM

Capital International Investors purchased a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,895,161 shares of the semiconductor company’s stock, valued at approximately $222,530,000.

Other hedge funds have also made changes to their positions in the company. USA Financial Formulas purchased a new position in shares of Tower Semiconductor in the fourth quarter valued at $27,000. CIBC Private Wealth Group LLC increased its stake in shares of Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 300 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Tower Semiconductor during the 3rd quarter worth approximately $48,000. SBI Securities Co. Ltd. increased its stake in shares of Tower Semiconductor by 344.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 403 shares in the last quarter. Finally, CoreCap Advisors LLC purchased a new position in shares of Tower Semiconductor during the 4th quarter worth approximately $68,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TSEM shares. 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. Wedbush increased their price objective on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Benchmark increased their price objective on Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Finally, Susquehanna increased their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the company 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $276.75.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $242.04 on Tuesday. The business’s 50-day moving average price is $228.12 and its 200 day moving average price is $162.02. Tower Semiconductor Ltd. has a twelve month low of $37.48 and a twelve month high of $302.86. The company has a market capitalization of $27.22 billion, a PE ratio of 112.58 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 released its earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share 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 firm had revenue of $413.63 million for the quarter, compared to the consensus estimate of $410.72 million. During the same period in the prior year, the business posted $0.35 earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, research analysts predict that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current year.

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.