PharVision Advisers LLC Takes Position in Tower Semiconductor Ltd. $TSEM

PharVision Advisers LLC purchased a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,779 shares of the semiconductor company’s stock, valued at approximately $207,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership purchased a new stake in Tower Semiconductor in the 2nd quarter valued at about $5,809,000. Norges Bank bought a new stake in shares of Tower Semiconductor during the second quarter valued at approximately $6,267,000. Hsbc Holdings PLC purchased a new stake in shares of Tower Semiconductor in the second quarter valued at approximately $438,000. Oak Associates Ltd. OH boosted its holdings in shares of Tower Semiconductor by 1.8% in the second quarter. Oak Associates Ltd. OH now owns 20,191 shares of the semiconductor company’s stock valued at $875,000 after purchasing an additional 350 shares during the period. Finally, American Century Companies Inc. grew its stake in Tower Semiconductor by 43.6% in the second quarter. American Century Companies Inc. now owns 548,700 shares of the semiconductor company’s stock worth $23,786,000 after purchasing an additional 166,533 shares in the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TSEM. Wedbush lifted their target price on Tower Semiconductor from $85.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Barclays lifted their price objective on Tower Semiconductor from $74.00 to $97.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday. Susquehanna boosted their price target on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a report on Tuesday, November 11th. Finally, Benchmark upped their price target on shares of Tower Semiconductor from $73.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Tower Semiconductor currently has an average rating of “Moderate Buy” and an average price target of $119.25.

Tower Semiconductor Price Performance

TSEM opened at $116.01 on Thursday. The firm has a market capitalization of $12.86 billion, a PE ratio of 67.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.61 and a quick ratio of 5.54. The business’s 50-day moving average is $85.55 and its two-hundred day moving average is $62.02. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $119.82.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Monday, November 10th. The semiconductor company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. Tower Semiconductor had a net margin of 12.92% and a return on equity of 7.16%. The business had revenue of $395.67 million for the quarter, compared to analysts’ expectations of $394.98 million. During the same period last year, the business earned $0.57 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. Research analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.