Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Acquired by Senvest Management LLC

Senvest Management LLC lifted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,320,433 shares of the semiconductor company's stock after purchasing an additional 138,807 shares during the period. Tower Semiconductor comprises about 12.8% of Senvest Management LLC's holdings, making the stock its largest position. Senvest Management LLC owned 7.51% of Tower Semiconductor worth $368,262,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in Tower Semiconductor in the third quarter valued at $27,000. USA Financial Formulas purchased a new stake in Tower Semiconductor during the 3rd quarter valued at approximately $38,000. Blue Trust Inc. lifted 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 worth $80,000 after acquiring an additional 1,376 shares during the period. Signaturefd LLC grew its stake 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 valued at $109,000 after purchasing an additional 431 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of Tower Semiconductor during the first quarter worth approximately $164,000. 70.51% of the stock is owned by institutional investors and hedge funds.

Tower Semiconductor Price Performance

Shares of TSEM stock traded up $0.02 during midday trading on Friday, reaching $47.83. 357,367 shares of the company traded hands, compared to its average volume of 768,672. The firm's 50 day simple moving average is $44.22 and its two-hundred day simple moving average is $41.15. The firm has a market cap of $5.30 billion, a PE ratio of 25.85 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. Tower Semiconductor Ltd. has a 1-year low of $27.11 and a 1-year high of $50.25.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The firm had revenue of $370.50 million during the quarter, compared to analysts' expectations of $370.30 million. During the same period in the previous year, the firm posted $0.47 earnings per share. Tower Semiconductor's revenue was up 3.4% on a year-over-year basis. On average, equities research analysts expect that Tower Semiconductor Ltd. will post 1.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Craig Hallum lifted their price objective 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. Benchmark reissued a "buy" rating and set a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. Susquehanna lifted their price target on Tower Semiconductor from $55.00 to $60.00 and gave the company a "positive" rating in a research note on Thursday, November 14th. Finally, StockNews.com cut Tower Semiconductor from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.