Dakota Wealth Management Buys New Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Dakota Wealth Management acquired a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,866 shares of the semiconductor company's stock, valued at approximately $920,000.

Other large investors have also recently made changes to their positions in the company. Essex Investment Management Co. LLC grew its stake in Tower Semiconductor by 7.5% in the 3rd quarter. Essex Investment Management Co. LLC now owns 179,579 shares of the semiconductor company's stock valued at $7,948,000 after buying an additional 12,551 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Tower Semiconductor by 1.5% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company's stock worth $145,961,000 after acquiring an additional 50,000 shares during the last quarter. Summit Partners Public Asset Management LLC boosted its holdings in shares of Tower Semiconductor by 1,146.9% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company's stock worth $66,227,000 after purchasing an additional 1,376,315 shares in the last quarter. Barclays PLC grew its position in Tower Semiconductor by 4,081.2% during the third quarter. Barclays PLC now owns 23,958 shares of the semiconductor company's stock valued at $1,060,000 after acquiring an additional 23,385 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Tower Semiconductor in the 3rd quarter worth $11,094,000. 70.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TSEM has been the subject of several research analyst reports. Susquehanna raised their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a "positive" rating in a research report on Thursday, November 14th. Benchmark restated a "buy" rating and issued a $55.00 target price on shares of Tower Semiconductor in a report 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 target price on 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's stock. According to data from MarketBeat.com, Tower Semiconductor has an average rating of "Moderate Buy" and a consensus price target of $58.33.

Tower Semiconductor Trading Up 1.1 %

Shares of NASDAQ TSEM traded up $0.57 during trading hours on Friday, reaching $54.74. The stock had a trading volume of 838,218 shares, compared to its average volume of 452,246. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 29.59 and a beta of 0.89. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 52-week low of $28.11 and a 52-week high of $55.31. The business's fifty day moving average price is $50.53 and its two-hundred day moving average price is $45.15.

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

Tower Semiconductor Company 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.