Y.D. More Investments Ltd boosted its position in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 9,622.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 911,926 shares of the semiconductor company's stock after buying an additional 902,546 shares during the period. Tower Semiconductor makes up approximately 3.7% of Y.D. More Investments Ltd's portfolio, making the stock its 5th biggest position. Y.D. More Investments Ltd owned approximately 0.83% of Tower Semiconductor worth $35,952,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSEM. Quadrant Capital Group LLC increased its holdings in Tower Semiconductor by 34.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company's stock worth $49,000 after purchasing an additional 413 shares in the last quarter. TD Asset Management Inc increased its holdings in Tower Semiconductor by 3.2% during the 2nd quarter. TD Asset Management Inc now owns 16,156 shares of the semiconductor company's stock worth $623,000 after purchasing an additional 506 shares in the last quarter. DGS Capital Management LLC increased its holdings in Tower Semiconductor by 5.5% during the 1st quarter. DGS Capital Management LLC now owns 15,246 shares of the semiconductor company's stock worth $510,000 after purchasing an additional 789 shares in the last quarter. Swiss National Bank increased its holdings in Tower Semiconductor by 1.0% during the 1st quarter. Swiss National Bank now owns 220,171 shares of the semiconductor company's stock worth $7,209,000 after purchasing an additional 2,189 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in Tower Semiconductor during the 4th quarter worth approximately $71,000. 70.51% of the stock is owned by institutional investors.
Tower Semiconductor Stock Performance
Shares of TSEM stock traded down $0.42 during trading on Thursday, hitting $41.97. The company's stock had a trading volume of 182,275 shares, compared to its average volume of 535,194. The company has a market cap of $4.59 billion, a PE ratio of 9.52 and a beta of 0.90. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $40.75 and a 200-day moving average of $36.99. Tower Semiconductor Ltd. has a 52 week low of $21.43 and a 52 week high of $44.58.
Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. Tower Semiconductor had a return on equity of 8.33% and a net margin of 35.58%. The business had revenue of $351.18 million for the quarter, compared to the consensus estimate of $350.00 million. As a group, research analysts anticipate that Tower Semiconductor Ltd. will post 1.82 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on TSEM. Benchmark reissued a "buy" rating and set a $55.00 price objective on shares of Tower Semiconductor in a report on Monday. StockNews.com lowered Tower Semiconductor from a "strong-buy" rating to a "buy" rating in a report on Friday, July 19th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tower Semiconductor has an average rating of "Buy" and a consensus target price of $51.33.
Check Out Our Latest Stock 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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