Tower Semiconductor Ltd. $TSEM Shares Acquired by Granahan Investment Management LLC

Granahan Investment Management LLC lifted its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 42.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,188 shares of the semiconductor company’s stock after acquiring an additional 53,208 shares during the period. Granahan Investment Management LLC’s holdings in Tower Semiconductor were worth $12,883,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Argent Trust Co acquired a new stake in Tower Semiconductor during the 3rd quarter worth $287,000. American Century Companies Inc. increased 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 valued at $23,786,000 after purchasing an additional 166,533 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Tower Semiconductor in the third quarter valued at $1,168,000. Jennison Associates LLC raised its holdings in shares of Tower Semiconductor by 18.8% in the third quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company’s stock valued at $168,591,000 after buying an additional 369,600 shares during the last quarter. Finally, G2 Investment Partners Management LLC purchased a new stake in shares of Tower Semiconductor in the second quarter valued at about $4,985,000. 70.51% of the stock is owned by institutional investors and hedge funds.

Tower Semiconductor Stock Performance

Shares of TSEM stock opened at $124.71 on Monday. The stock has a fifty day moving average price of $127.35 and a 200 day moving average price of $102.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48. The stock has a market cap of $14.02 billion, a PE ratio of 64.62 and a beta of 0.91. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $149.57.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.The company had revenue of $440.21 million for the quarter, compared to analyst estimates of $439.81 million. During the same quarter in the prior year, the company earned $0.49 earnings per share. Tower Semiconductor’s revenue was up 13.7% compared to the same quarter last year. Sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSEM has been the topic of a number of research reports. Benchmark raised their price target on Tower Semiconductor from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Wedbush upped their price objective on Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Susquehanna reaffirmed a “positive” rating and set a $180.00 price objective on shares of Tower Semiconductor in a research report on Thursday, February 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Finally, Barclays boosted their target price on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Tower Semiconductor presently has an average rating of “Hold” and an average price target of $156.75.

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.