Legato Capital Management LLC Has $3.21 Million Stock Holdings in Tower Semiconductor Ltd. $TSEM

Legato Capital Management LLC raised its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 10.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,318 shares of the semiconductor company’s stock after purchasing an additional 2,489 shares during the quarter. Legato Capital Management LLC’s holdings in Tower Semiconductor were worth $3,208,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TSEM. USA Financial Formulas acquired a new stake in Tower Semiconductor during the 4th quarter valued at $27,000. CIBC Private Wealth Group LLC lifted its holdings in Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in Tower Semiconductor by 100.0% during the 3rd 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 last quarter. Advisory Services Network LLC acquired a new stake in Tower Semiconductor during the 3rd quarter valued at $48,000. Finally, Covestor Ltd acquired a new stake in Tower Semiconductor during the 3rd quarter valued at $52,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Up 1.6%

TSEM opened at $283.43 on Friday. Tower Semiconductor Ltd. has a fifty-two week low of $37.48 and a fifty-two week high of $288.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63. The company has a market capitalization of $31.87 billion, a P/E ratio of 131.83 and a beta of 0.85. The stock has a fifty day moving average of $203.98 and a 200-day moving average of $148.32.

Tower Semiconductor (NASDAQ:TSEM) last posted its 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. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The company had revenue of $413.63 million during the quarter, compared to the consensus estimate of $410.72 million. During the same quarter last year, the firm earned $0.35 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. On average, equities analysts expect that Tower Semiconductor Ltd. will post 2.64 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TSEM shares. Barclays raised their price target on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Benchmark raised their price target on Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Wedbush lifted their target price on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Susquehanna lifted their target price on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.