18,594 Shares in Tower Semiconductor Ltd. $TSEM Purchased by Virtu Financial LLC

Virtu Financial LLC purchased a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 18,594 shares of the semiconductor company’s stock, valued at approximately $2,183,000.

Several other large investors also recently bought and sold shares of TSEM. USA Financial Formulas acquired a new stake in shares of Tower Semiconductor in the fourth quarter worth approximately $27,000. CIBC Private Wealth Group LLC raised its stake in Tower Semiconductor by 254.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Advisory Services Network LLC acquired a new position in Tower Semiconductor in the 3rd quarter valued at $48,000. Kestra Advisory Services LLC purchased a new position in Tower Semiconductor in the 4th quarter valued at $52,000. Finally, SBI Securities Co. Ltd. lifted its holdings in Tower Semiconductor by 344.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 403 shares in the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Performance

Tower Semiconductor stock opened at $286.74 on Friday. The firm has a 50 day simple moving average of $242.23 and a 200-day simple moving average of $171.98. The stock has a market cap of $32.24 billion, a price-to-earnings ratio of 133.37 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92. Tower Semiconductor Ltd. has a 1-year low of $38.90 and a 1-year high of $302.86.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TSEM shares. Benchmark upped 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 raised their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Finally, Wedbush boosted their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $276.75.

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.