Harvest Fund Management Co. Ltd Grows Holdings in Tower Semiconductor Ltd. $TSEM

Harvest Fund Management Co. Ltd grew its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 102.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 18,866 shares of the semiconductor company’s stock after acquiring an additional 9,563 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Tower Semiconductor were worth $2,215,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vise Technologies Inc. purchased a new stake in shares of Tower Semiconductor in the 4th quarter valued at approximately $383,000. Cibc World Market Inc. purchased a new stake in shares of Tower Semiconductor in the 4th quarter valued at approximately $289,000. TD Asset Management Inc raised its stake in shares of Tower Semiconductor by 661.3% in the 4th quarter. TD Asset Management Inc now owns 174,409 shares of the semiconductor company’s stock valued at $20,470,000 after acquiring an additional 151,499 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Tower Semiconductor by 214.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock valued at $259,083,000 after acquiring an additional 1,505,421 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Tower Semiconductor in the 4th quarter valued at approximately $619,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Price Performance

Shares of TSEM opened at $235.48 on Friday. Tower Semiconductor Ltd. has a fifty-two week low of $37.48 and a fifty-two week high of $302.86. The firm’s 50 day moving average price is $226.77 and its 200 day moving average price is $160.54. The company has a market cap of $26.48 billion, a P/E ratio of 109.53 and a beta of 0.87. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04.

Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.09. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The firm had revenue of $413.63 million for the quarter, compared to the consensus estimate of $410.72 million. During the same period in the prior year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, research analysts forecast that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSEM has been the topic of a number of research analyst reports. Susquehanna boosted their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research note on Thursday, May 14th. Barclays upped their target price on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Wedbush upped their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Benchmark upped their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $276.75.

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.