Barclays PLC Acquires 23,385 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Barclays PLC increased its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 4,081.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,958 shares of the semiconductor company's stock after buying an additional 23,385 shares during the quarter. Barclays PLC's holdings in Tower Semiconductor were worth $1,060,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC acquired a new stake in Tower Semiconductor in the 3rd quarter valued at $27,000. USA Financial Formulas bought a new position in shares of Tower Semiconductor in the 3rd quarter valued at about $38,000. Blue Trust Inc. increased its position in shares of Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company's stock valued at $80,000 after acquiring an additional 1,376 shares during the last quarter. Signaturefd LLC raised its holdings in Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company's stock worth $109,000 after acquiring an additional 431 shares in the last quarter. Finally, Scientech Research LLC acquired a new position in Tower Semiconductor during the second quarter valued at approximately $200,000. Institutional investors and hedge funds own 70.51% of the company's stock.

Wall Street Analyst Weigh In

TSEM has been the topic of several recent analyst reports. Benchmark reaffirmed a "buy" rating and set a $55.00 price target on shares of Tower Semiconductor in a research report on Thursday, November 14th. Susquehanna raised their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a "positive" rating in a research note on Thursday, November 14th. StockNews.com lowered shares of Tower Semiconductor from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Finally, Craig Hallum lifted their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $58.33.

Tower Semiconductor Stock Performance

Shares of NASDAQ TSEM traded down $0.57 during midday trading on Tuesday, hitting $51.51. 315,330 shares of the company's stock were exchanged, compared to its average volume of 528,404. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5.71 billion, a PE ratio of 27.84 and a beta of 0.92. Tower Semiconductor Ltd. has a 12 month low of $28.02 and a 12 month high of $54.27. The company's 50 day moving average price is $47.64 and its 200 day moving average price is $43.60.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.12. The firm had revenue of $370.50 million during the quarter, compared to analysts' expectations of $370.30 million. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 earnings per share. As a group, analysts predict that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current fiscal year.

Tower Semiconductor Profile

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.