Public Employees Retirement System of Ohio Buys Shares of 44,671 Tower Semiconductor Ltd. (NASDAQ:TSEM)

Public Employees Retirement System of Ohio purchased a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 44,671 shares of the semiconductor company's stock, valued at approximately $1,979,000.

Other institutional investors also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in Tower Semiconductor during the third quarter valued at about $27,000. USA Financial Formulas bought a new position in Tower Semiconductor during the third quarter valued at about $38,000. Blue Trust Inc. grew its position in Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company's stock valued at $80,000 after buying an additional 1,376 shares during the period. Signaturefd LLC grew its position in Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company's stock valued at $109,000 after buying an additional 431 shares during the period. Finally, Scientech Research LLC bought a new position in Tower Semiconductor during the second quarter valued at about $200,000. Institutional investors own 70.51% of the company's stock.

Tower Semiconductor Stock Performance

NASDAQ TSEM traded down $1.34 during trading on Wednesday, hitting $51.11. 1,248,644 shares of the company's stock traded hands, compared to its average volume of 530,805. Tower Semiconductor Ltd. has a 12-month low of $28.02 and a 12-month high of $54.27. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 27.63 and a beta of 0.92. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. The business has a 50 day moving average of $46.29 and a 200-day moving average of $42.64.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 EPS 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 during the quarter, compared to analyst estimates of $370.30 million. During the same period last year, the business earned $0.47 earnings per share. Tower Semiconductor's revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSEM has been the subject of several research reports. Craig Hallum increased their price target on shares of 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 company a "positive" rating in a report on Thursday, November 14th. Benchmark reaffirmed a "buy" rating and set a $55.00 price objective on shares of Tower Semiconductor in a report on Thursday, November 14th. Finally, StockNews.com downgraded shares of 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 assigned a buy rating to the stock. According to data from MarketBeat, Tower Semiconductor has an average rating of "Moderate Buy" and an average target price of $58.33.

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.