TD Asset Management Inc Buys 151,499 Shares of Tower Semiconductor Ltd. $TSEM

TD Asset Management Inc lifted its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 661.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,409 shares of the semiconductor company’s stock after acquiring an additional 151,499 shares during the period. TD Asset Management Inc’s holdings in Tower Semiconductor were worth $20,470,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Covestor Ltd increased its position in shares of Tower Semiconductor by 10.8% during the fourth quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 77 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Tower Semiconductor by 2.6% during the third quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock worth $359,000 after acquiring an additional 127 shares in the last quarter. Evergreen Capital Management LLC increased its position in shares of Tower Semiconductor by 2.6% during the fourth quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock worth $601,000 after acquiring an additional 131 shares in the last quarter. Mariner LLC grew its position in Tower Semiconductor by 2.4% in the third quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock valued at $637,000 after purchasing an additional 207 shares in the last quarter. Finally, USA Financial Formulas bought a new position in Tower Semiconductor in the fourth quarter valued at $27,000. Institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TSEM. Susquehanna raised their target price on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research report on Thursday, May 14th. Barclays raised their target price on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Benchmark raised their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, Wedbush raised their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company 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 given a Hold rating to the stock. According to MarketBeat.com, Tower Semiconductor currently has an average rating of “Hold” and a consensus price target of $276.75.

Tower Semiconductor Price Performance

Tower Semiconductor stock opened at $235.48 on Monday. The company has a market cap of $26.48 billion, a P/E ratio of 109.53 and a beta of 0.87. Tower Semiconductor Ltd. has a 1-year low of $37.48 and a 1-year high of $302.86. The company has a fifty day simple moving average of $226.77 and a 200 day simple moving average of $161.00. 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 announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.35 earnings per share. Research analysts anticipate 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.