1,472,045 Shares in Tower Semiconductor Ltd. $TSEM Acquired by Turiya Advisors Asia Ltd

Turiya Advisors Asia Ltd acquired a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the fourth quarter, Holdings Channel reports. The fund acquired 1,472,045 shares of the semiconductor company’s stock, valued at approximately $172,848,000. Tower Semiconductor makes up approximately 26.5% of Turiya Advisors Asia Ltd’s investment portfolio, making the stock its 2nd biggest position.

A number of other large investors also recently bought and sold shares of TSEM. USA Financial Formulas bought a new position in Tower Semiconductor in the fourth quarter worth approximately $27,000. CIBC Private Wealth Group LLC raised its stake in Tower Semiconductor by 254.2% in the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after buying an additional 300 shares in the last quarter. Advisory Services Network LLC bought a new position in Tower Semiconductor in the third quarter worth approximately $48,000. SBI Securities Co. Ltd. raised its stake in Tower Semiconductor by 344.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after buying an additional 403 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new position in Tower Semiconductor in the fourth quarter worth approximately $68,000. Institutional investors own 70.51% of the company’s stock.

Analyst Ratings Changes

TSEM has been the subject of a number of recent research reports. Susquehanna boosted their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Benchmark lifted 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. Wedbush lifted their price target 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. Finally, Barclays lifted 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 research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $276.75.

Tower Semiconductor Trading Up 10.6%

NASDAQ:TSEM opened at $258.34 on Friday. Tower Semiconductor Ltd. has a 12 month low of $37.48 and a 12 month high of $302.86. The firm has a fifty day simple moving average of $232.40 and a 200-day simple moving average of $165.09. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $29.05 billion, a P/E ratio of 120.16 and a beta of 0.87.

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

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.