Barclays PLC increased its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 4,081.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,958 shares of the semiconductor company's stock after purchasing an additional 23,385 shares during the period. Barclays PLC's holdings in Tower Semiconductor were worth $1,060,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of TSEM. Transcendent Capital Group LLC bought a new position in Tower Semiconductor in the 3rd quarter valued at about $27,000. USA Financial Formulas acquired a new position in Tower Semiconductor during the third quarter valued at approximately $38,000. Blue Trust Inc. lifted its stake in Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company's stock worth $80,000 after purchasing an additional 1,376 shares during the last quarter. Signaturefd LLC lifted its stake 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 purchasing an additional 431 shares during the last quarter. Finally, Scientech Research LLC bought a new position in shares of Tower Semiconductor in the 2nd quarter valued at $200,000. Institutional investors and hedge funds own 70.51% of the company's stock.
Tower Semiconductor Trading Down 0.6 %
Shares of NASDAQ:TSEM traded down $0.31 during midday trading on Wednesday, hitting $50.70. 496,578 shares of the stock were exchanged, compared to its average volume of 535,325. The business's 50-day moving average price is $49.27 and its 200 day moving average price is $44.48. Tower Semiconductor Ltd. has a 12 month low of $28.02 and a 12 month high of $54.27. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 27.41 and a beta of 0.89.
Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 EPS. Analysts predict that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current year.
Wall Street Analyst Weigh In
TSEM has been the subject of several recent analyst reports. Benchmark restated a "buy" rating and set a $55.00 price objective on shares of Tower Semiconductor in a research report on Thursday, November 14th. Susquehanna raised their price target 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 cut shares of Tower Semiconductor from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Finally, Craig Hallum raised their target price 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 research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $58.33.
Read Our Latest Research Report on TSEM
Tower Semiconductor Profile
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Free Report)
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.
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