Rockefeller Capital Management L.P. Boosts Stake in Tower Semiconductor Ltd. $TSEM

Rockefeller Capital Management L.P. increased its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 66.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,208 shares of the semiconductor company’s stock after acquiring an additional 2,887 shares during the period. Rockefeller Capital Management L.P.’s holdings in Tower Semiconductor were worth $846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TSEM. Y.D. More Investments Ltd lifted its position in shares of Tower Semiconductor by 4.6% during the 4th quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company’s stock valued at $118,084,000 after buying an additional 44,401 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Tower Semiconductor by 0.8% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock valued at $352,589,000 after acquiring an additional 25,000 shares during the period. Granahan Investment Management LLC increased its holdings in Tower Semiconductor by 42.6% in the 3rd quarter. Granahan Investment Management LLC now owns 178,188 shares of the semiconductor company’s stock worth $12,883,000 after acquiring an additional 53,208 shares in the last quarter. Rockingstone Advisors LLC purchased a new stake in Tower Semiconductor in the 4th quarter worth $5,296,000. Finally, GF Fund Management CO. LTD. raised its position in Tower Semiconductor by 26,835.5% during the fourth quarter. GF Fund Management CO. LTD. now owns 308,412 shares of the semiconductor company’s stock worth $36,214,000 after acquiring an additional 307,267 shares during the period. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TSEM shares. Wedbush raised their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Susquehanna boosted their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Finally, Benchmark boosted their price objective on Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $276.75.

Tower Semiconductor Stock Performance

Shares of TSEM opened at $219.05 on Friday. Tower Semiconductor Ltd. has a 52-week low of $43.12 and a 52-week high of $319.94. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average is $251.41 and its two-hundred day moving average is $181.79. The stock has a market cap of $24.63 billion, a PE ratio of 101.88 and a beta of 0.87.

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 analysts’ consensus estimates of $0.56 by $0.09. The business 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 company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Research analysts forecast that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current fiscal 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.