Granahan Investment Management LLC Boosts Stock Position in Tower Semiconductor Ltd. $TSEM

Granahan Investment Management LLC increased its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 42.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,188 shares of the semiconductor company’s stock after acquiring an additional 53,208 shares during the period. Granahan Investment Management LLC owned about 0.16% of Tower Semiconductor worth $12,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in Tower Semiconductor by 2.6% during the third quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock worth $359,000 after purchasing an additional 127 shares during the period. Westside Investment Management Inc. boosted its stake in shares of Tower Semiconductor by 100.0% in the third quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 226 shares during the period. Orion Porfolio Solutions LLC boosted its stake in shares of Tower Semiconductor by 1.1% in the second quarter. Orion Porfolio Solutions LLC now owns 28,517 shares of the semiconductor company’s stock valued at $1,236,000 after purchasing an additional 301 shares during the period. Oak Associates Ltd. OH grew its holdings in shares of Tower Semiconductor by 1.8% in the second quarter. Oak Associates Ltd. OH now owns 20,191 shares of the semiconductor company’s stock valued at $875,000 after purchasing an additional 350 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Tower Semiconductor by 3.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,188 shares of the semiconductor company’s stock valued at $1,239,000 after purchasing an additional 603 shares in the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $124.71 on Monday. The company has a fifty day moving average of $127.35 and a two-hundred day moving average of $102.64. The company has a market capitalization of $14.02 billion, a PE ratio of 64.62 and a beta of 0.91. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $149.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.48 and a quick ratio of 5.51.

Tower Semiconductor (NASDAQ:TSEM) last posted its 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. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.The business had revenue of $440.21 million for the quarter, compared to analysts’ expectations of $439.81 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The business’s revenue was up 13.7% compared to the same quarter last year. As a group, analysts expect that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

Analyst Ratings Changes

TSEM has been the topic of a number of research reports. Wedbush increased their target price on shares of Tower Semiconductor from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, February 12th. Barclays boosted their price target 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Benchmark increased their price objective on Tower Semiconductor from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Susquehanna reiterated a “positive” rating and issued a $180.00 target price on shares of Tower Semiconductor in a report on Thursday, February 12th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.