PDT Partners LLC bought a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 45,536 shares of the semiconductor company's stock, valued at approximately $2,015,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSEM. Transcendent Capital Group LLC bought a new stake in Tower Semiconductor during the 3rd quarter valued at approximately $27,000. USA Financial Formulas bought a new stake in Tower Semiconductor during the 3rd quarter valued at $38,000. Blue Trust Inc. raised its position in Tower Semiconductor by 319.3% during the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company's stock valued at $80,000 after purchasing an additional 1,376 shares in the last quarter. Signaturefd LLC raised its position in shares of Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company's stock worth $109,000 after acquiring an additional 431 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Tower Semiconductor in the 2nd quarter worth $177,000. Institutional investors own 70.51% of the company's stock.
Tower Semiconductor Price Performance
Shares of TSEM traded down $0.23 during mid-day trading on Friday, reaching $47.13. 369,493 shares of the company's stock were exchanged, compared to its average volume of 759,886. Tower Semiconductor Ltd. has a 52-week low of $27.11 and a 52-week high of $50.25. The company has a 50-day simple moving average of $44.83 and a two-hundred day simple moving average of $41.59. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 25.48 and a beta of 0.90. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05.
Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The company had revenue of $370.50 million for the quarter, compared to analyst estimates of $370.30 million. During the same quarter last year, the business earned $0.47 EPS. Tower Semiconductor's revenue for the quarter was up 3.4% on a year-over-year basis. On average, sell-side analysts predict that Tower Semiconductor Ltd. will post 1.77 EPS for the current fiscal year.
Analysts Set New Price Targets
TSEM has been the subject of a number of research reports. Benchmark reaffirmed a "buy" rating and set a $55.00 price target on shares of Tower Semiconductor in a research report on Thursday, November 14th. Susquehanna lifted their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a "positive" rating in a report on Thursday, November 14th. Craig Hallum boosted their target price on Tower Semiconductor from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Finally, StockNews.com cut Tower Semiconductor from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Tower Semiconductor currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.33.
Get Our Latest Stock Analysis on TSEM
About Tower Semiconductor
(
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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