Virtu Financial LLC Acquires New Position in Tower Semiconductor Ltd. $TSEM

Virtu Financial LLC bought a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,594 shares of the semiconductor company’s stock, valued at approximately $2,183,000.

A number of other hedge funds have also bought and sold shares of the stock. USA Financial Formulas acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth $27,000. CIBC Private Wealth Group LLC raised its stake in Tower Semiconductor by 254.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 300 shares during the last quarter. Advisory Services Network LLC purchased a new position in Tower Semiconductor in the 3rd quarter worth $48,000. Kestra Advisory Services LLC acquired a new stake in Tower Semiconductor during the 4th quarter worth about $52,000. Finally, SBI Securities Co. Ltd. lifted its position in Tower Semiconductor by 344.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 403 shares during the period. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

TSEM stock opened at $286.74 on Friday. Tower Semiconductor Ltd. has a 52-week low of $38.90 and a 52-week high of $302.86. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. The firm has a market cap of $32.24 billion, a P/E ratio of 133.37 and a beta of 0.87. The company’s 50-day simple moving average is $242.23 and its 200-day simple moving average is $171.98.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $413.63 million during the quarter, compared to analysts’ expectations of $410.72 million. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.Tower Semiconductor’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, equities analysts forecast that Tower Semiconductor Ltd. will post 2.84 EPS for the current fiscal year.

Analyst Ratings Changes

TSEM has been the topic of a number of research reports. Susquehanna increased their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a report on Thursday, May 14th. Benchmark increased their price target on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Wedbush raised their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Tower Semiconductor has a consensus rating of “Hold” and a consensus target price of $276.75.

Tower Semiconductor Profile

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.