7,210 Shares in Tower Semiconductor Ltd. $TSEM Acquired by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. acquired a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the third quarter, Holdings Channel.com reports. The firm acquired 7,210 shares of the semiconductor company’s stock, valued at approximately $521,000.

Several other institutional investors have also recently made changes to their positions in TSEM. Jennison Associates LLC boosted its holdings in shares of Tower Semiconductor by 18.8% in the third quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company’s stock worth $168,591,000 after acquiring an additional 369,600 shares during the period. Schwartz Investment Counsel Inc. purchased a new stake in Tower Semiconductor during the 3rd quarter worth about $18,798,000. Marshall Wace LLP lifted its holdings in Tower Semiconductor by 2,402.5% during the 2nd quarter. Marshall Wace LLP now owns 239,994 shares of the semiconductor company’s stock worth $10,404,000 after purchasing an additional 230,404 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Tower Semiconductor by 43.4% in the 3rd quarter. Penserra Capital Management LLC now owns 671,657 shares of the semiconductor company’s stock worth $48,560,000 after purchasing an additional 203,176 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in Tower Semiconductor by 7.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,977,806 shares of the semiconductor company’s stock valued at $215,295,000 after buying an additional 200,000 shares in the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Trading Up 2.1%

Shares of TSEM opened at $128.47 on Friday. Tower Semiconductor Ltd. has a 1-year low of $28.64 and a 1-year high of $149.57. The company has a market capitalization of $14.24 billion, a P/E ratio of 66.57 and a beta of 0.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.48 and a quick ratio of 5.51. The firm’s 50 day simple moving average is $126.23 and its 200 day simple moving average is $94.40.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The business had revenue of $440.21 million during the quarter, compared to analysts’ expectations of $439.81 million. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.49 EPS. Sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSEM. Susquehanna reissued a “positive” rating and issued a $180.00 price target on shares of Tower Semiconductor in a report on Thursday, February 12th. Benchmark upped their target price on shares of Tower Semiconductor from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Wedbush boosted their price target on shares of Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Finally, Barclays upped their price target on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $156.75.

About Tower Semiconductor

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.