Gordian Capital Singapore Pte Ltd Grows Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Gordian Capital Singapore Pte Ltd boosted its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 140.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,000 shares of the semiconductor company's stock after acquiring an additional 14,000 shares during the period. Gordian Capital Singapore Pte Ltd's holdings in Tower Semiconductor were worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Point72 Asset Management L.P. boosted its position in Tower Semiconductor by 203.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company's stock valued at $137,444,000 after acquiring an additional 2,083,262 shares in the last quarter. Summit Partners Public Asset Management LLC grew its stake in Tower Semiconductor by 1,146.9% in the third quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company's stock valued at $66,227,000 after purchasing an additional 1,376,315 shares during the last quarter. Y.D. More Investments Ltd lifted its position in shares of Tower Semiconductor by 9,622.0% during the second quarter. Y.D. More Investments Ltd now owns 911,926 shares of the semiconductor company's stock valued at $35,952,000 after buying an additional 902,546 shares during the last quarter. Meitav Investment House Ltd. lifted its position in shares of Tower Semiconductor by 25.6% during the second quarter. Meitav Investment House Ltd. now owns 2,431,817 shares of the semiconductor company's stock valued at $95,686,000 after buying an additional 495,380 shares during the last quarter. Finally, Scopia Capital Management LP bought a new stake in shares of Tower Semiconductor in the 3rd quarter valued at about $13,926,000. Hedge funds and other institutional investors own 70.51% of the company's stock.

Wall Street Analysts Forecast Growth

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

Tower Semiconductor Price Performance

Shares of Tower Semiconductor stock traded down $1.22 on Monday, hitting $48.60. 663,793 shares of the company were exchanged, compared to its average volume of 524,146. Tower Semiconductor Ltd. has a 1-year low of $28.02 and a 1-year high of $50.66. 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 stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 26.93 and a beta of 0.92. The company has a 50-day moving average price of $45.43 and a 200 day moving average price of $42.01.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its earnings results 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 company had revenue of $370.50 million for the quarter, compared to the consensus estimate of $370.30 million. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. Tower Semiconductor's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 earnings per share. As a group, sell-side 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.