Tower Semiconductor Ltd. $TSEM Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,284,968 shares of the semiconductor company’s stock after acquiring an additional 78,697 shares during the quarter. Vanguard Group Inc. owned approximately 3.87% of Tower Semiconductor worth $305,630,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Amundi increased its stake in Tower Semiconductor by 86.8% during the first quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after purchasing an additional 10,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Tower Semiconductor by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock valued at $3,553,000 after buying an additional 3,954 shares during the period. State of New Jersey Common Pension Fund D grew its position in shares of Tower Semiconductor by 53.1% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 44,737 shares of the semiconductor company’s stock valued at $1,939,000 after buying an additional 15,507 shares during the last quarter. Penserra Capital Management LLC raised its stake in Tower Semiconductor by 40.6% during the second quarter. Penserra Capital Management LLC now owns 468,481 shares of the semiconductor company’s stock worth $20,308,000 after acquiring an additional 135,250 shares during the period. Finally, CSM Advisors LLC acquired a new stake in Tower Semiconductor during the second quarter worth about $544,000. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Trading Up 0.8%

Shares of NASDAQ:TSEM opened at $124.87 on Friday. The business’s 50 day moving average is $127.16 and its 200-day moving average is $97.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.48 and a quick ratio of 5.51. Tower Semiconductor Ltd. has a 1-year low of $28.64 and a 1-year high of $149.57.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, February 11th. The semiconductor company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The company had revenue of $440.21 million during the quarter, compared to the consensus estimate of $439.81 million. During the same period last year, the firm earned $0.49 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, sell-side analysts expect that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.