Oliver Luxxe Assets LLC Grows Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Oliver Luxxe Assets LLC lifted its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 79.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,056 shares of the semiconductor company's stock after purchasing an additional 18,586 shares during the quarter. Oliver Luxxe Assets LLC's holdings in Tower Semiconductor were worth $1,862,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TSEM. USA Financial Formulas bought a new stake in shares of Tower Semiconductor during the third quarter valued at about $38,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Tower Semiconductor in the 2nd quarter worth approximately $177,000. State Board of Administration of Florida Retirement System bought a new position in Tower Semiconductor in the 1st quarter valued at $164,000. Scientech Research LLC bought a new position in Tower Semiconductor in the 2nd quarter valued at $200,000. Finally, ProShare Advisors LLC purchased a new position in shares of Tower Semiconductor during the 1st quarter valued at $243,000. Hedge funds and other institutional investors own 70.51% of the company's stock.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM traded up $0.21 during mid-day trading on Monday, reaching $46.03. 453,860 shares of the company were exchanged, compared to its average volume of 510,026. Tower Semiconductor Ltd. has a 52 week low of $21.43 and a 52 week high of $46.53. The company's 50 day moving average price is $41.96 and its 200 day moving average price is $38.74. The stock has a market capitalization of $5.10 billion, a PE ratio of 10.39 and a beta of 0.90. The company has a quick ratio of 4.94, a current ratio of 5.90 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates 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. Sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSEM has been the topic of a number of recent analyst reports. Benchmark reiterated a "buy" rating and issued a $55.00 price objective on shares of Tower Semiconductor in a research report on Monday, September 9th. StockNews.com cut 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, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $51.33.

About Tower Semiconductor

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.