Sei Investments Co. Invests $1.15 Million in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Sei Investments Co. bought a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 29,201 shares of the semiconductor company's stock, valued at approximately $1,148,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSEM. William Blair Investment Management LLC bought a new position in Tower Semiconductor in the 1st quarter valued at about $34,911,000. Y.D. More Investments Ltd boosted its stake in Tower Semiconductor by 9,622.0% in the 2nd quarter. Y.D. More Investments Ltd now owns 911,926 shares of the semiconductor company's stock valued at $35,952,000 after purchasing an additional 902,546 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Tower Semiconductor by 28.9% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,639,897 shares of the semiconductor company's stock valued at $121,755,000 after buying an additional 816,266 shares in the last quarter. Jennison Associates LLC grew its holdings in Tower Semiconductor by 28.1% in the 1st quarter. Jennison Associates LLC now owns 2,650,283 shares of the semiconductor company's stock valued at $88,652,000 after buying an additional 580,610 shares in the last quarter. Finally, Meitav Investment House Ltd. increased its position in Tower Semiconductor by 25.6% during the 2nd quarter. Meitav Investment House Ltd. now owns 2,431,817 shares of the semiconductor company's stock worth $95,686,000 after buying an additional 495,380 shares during the period. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Price Performance

TSEM traded up $0.38 on Tuesday, hitting $44.68. 197,928 shares of the stock were exchanged, compared to its average volume of 306,709. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 10.13 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.90 and a quick ratio of 4.94. Tower Semiconductor Ltd. has a 12 month low of $21.43 and a 12 month high of $45.00. The business has a 50-day moving average of $41.30 and a two-hundred day moving average of $38.31.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.05. The company had revenue of $351.18 million during the quarter, compared to the consensus estimate of $350.00 million. Tower Semiconductor had a net margin of 35.58% and a return on equity of 8.33%. Sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSEM has been the topic of several research reports. Benchmark restated a "buy" rating and issued a $55.00 price target on shares of Tower Semiconductor in a research note on Monday, September 9th. StockNews.com lowered shares of Tower Semiconductor from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 19th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $51.33.

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.